AMD’s Former Chief Executive Officer to Leave Globalfoundries

From X-bit Labs: Hector Ruiz, the former chief executive officer of Advanced Micro Devices and the chairman of the board of Globalfoundries, will take a leave of absence immediately and will officially retire from the company starting January 4th, 2010.

Mr. Ruiz will take a voluntary leave of absence effective immediately before resigning from the company in January, the company’s board announced on Monday. The former head of AMD and a high-ranking executive at Motorola and Texas Instruments, apparently, submitted his resignation back in September with an effective date of January 4th, 2010. Mr. Ruiz will be replaced by Alan E. “Lanny” Ross, who will serve as interim chairman, effective immediately, until a permanent chairman has been appointed by the board.

Although Hector Ruiz oversaw several AMD’s very successful years, he is also responsible for AMD’s record losses, uncompetitive microprocessor micro-architecture, loss of hundreds of talented AMD’s employees and numerous questionable moves. Mr. Ruiz became AMD’s chief executive officer in on the 25th of April, 2002, was elected chairman of the board in 2004 and stepped down as CEO on the 17th of July, 2008.

During the time Mr. Ruiz was the chief executive officer of Advanced Micro Devices (Q2 2002 – Q3 2008), the company reported revenues of around $24.1 billion, but despite of several profitable quarters, AMD lost $5.805 billion while Hector Ruiz served as CEO. It was not entirely the fault of Mr. Ruiz: since the year 2000, AMD earned $40.076 billion, but lost about $7.252 billion in cash.

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