Feeds

CFO Seifert finds AMD's executive exit door, walks through it

Yet another leadership transition for Intel's only ARMless competitor

Security for virtualized datacentres

The personnel changes in AMD's executive suites continue with the resignation of the company's CFO, Thomas Seifert, on Monday.

"Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," the company assured investors in a statement announcing Seifert's departure to "pursue other opportunities."

Assurances aside, AMD's stock was down nearly 13 per cent in after-hours trading following the announcement.

Seifert joined AMD in 2009, and handled the company's CEO duties in the interim between the departure of then-CEO Dirk Meyer in January 2011 and the arrival of Rory Read, former Lenovo COO, as the company's new president and CEO that August.

Meyer, by the way, was followed out the door in February 2011 by chief operations and administrative officer Robert Rivet and corporate strategist Marty Seyer.

Other changes followed. The general manager of AMD's Product Group, Rick Bergman, left in September to "pursue a new opportunity," IBM/Apple/Cisco wanderer Mark Papermaster joined AMD as CTO the following month, and head marketeer and ex-Sunner Nigel Dessau found the exit two days before last Christmas.

Also in December, Read hired Lisa Su, late of IBM and Freescale, to head up AMD's then-new Global Business Units division, and in January of this year he recruited Rajan Naik away from his management consultancy gig at McKinsey & Co. to be his new corporate strategist.

Read's most recent hire – at least at the loftier levels of AMD's engineering hierarchy – was Jim Keller, who he snatched from Apple to be the chief architect of AMD's microprocessor cores, working under Papermaster.

And now CFO Siefert is gone, to be replaced on an interim basis by Devinder Kumar, who is currently AMD's corporate controller and a 28-year veteran of the last surviving Intel competitor.

One Reg hack reported hearing rumblings among some chipheads at the recently concluded Intel Developer Forum that Seifert was holding AMD back, and that unless he left, the company would remain stalled.

We'll now watch to see if they were right, and if the good ship AMD can continue to right itself. ®

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.