Dirk Meyer Replaces Hector Ruiz at AMD
Portable Design News, Thursday July 17, 2008
AMD today announced that its board of directors elected President and COO Dirk Meyer as the company’s chief executive officer. Meyer succeeds Hector Ruiz, who will become executive chairman of AMD and chair of the board of directors. As executive chairman, Ruiz will ensure a smooth executive leadership transition, focus on driving the company’s asset smart strategy to completion, and assist with high-level government and strategic partner relations.
The announcement coincides with AMD’s release of its most recent financial results. The company reported second quarter 2008 revenue from continuing operations of $1.349 billion, a seven percent decrease compared to the first quarter of 2008 and a three percent increase compared to the second quarter of 2007, resulting in a net loss of $1.189 billion, or $1.96 per share.
Ruiz, 62, joined AMD as president and chief operating officer in January 2000 and became AMD's chief executive officer on April 25, 2002. He has served on AMD’s board of directors since 2000 and was appointed chairman of the board of directors in 2004.
Meyer, 46, joined AMD in 1995 and made his mark as part of the design team responsible for the original AMD Athlon processor, a breakthrough product for AMD and the industry’s first processor to break the 1GHz barrier. From 2001 to 2006, Meyer led the company’s microprocessor business, overseeing related R&D, manufacturing, operations, and marketing. His leadership skills during those five years resulted in a doubling of revenue for the microprocessor business and a substantial expansion of AMD’s global profile. In 2006, Meyer was appointed president and COO, and in 2007, he was elected to AMD’s board of directors.
AMD, Sunnyvale CA (408) 749-4000 [www.amd.com]
