AMD Names Rory Read as New Chief Executive Officer

From X-bit Labs: AMD announced that its board of directors has appointed Rory P. Read, 49, president and chief executive officer of AMD. Mr. Read joins AMD from Lenovo Group, where he was most recently president and chief Operating officer responsible for leading day-to-day global operations while overseeing the development and implementation of the company’s growth strategy.

“I’m very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond. AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I’m excited to be joining AMD’s employees as we write the next chapter not just for the company, but for the industry and consumers around the world," said Mr. Read.

While managing Lenovo’s Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability. He was promoted to president and COO in 2009, helping to transform Lenovo into the world’s fastest growing major PC manufacturer and achieving its largest worldwide market share ever.

One of the things that AMD needs from its new chief executive officer is maintaining and growing profitability as well as providing vision for future growth beyond personal computers and servers.

While Mr. Read will likely start to define the new strategy for AMD shortly, it will take several years till the era of Dirk Meyer and Hector Ruiz ends at AMD and the era of Rory Read begins.

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