AMD CFO Seifert resigns
The chip maker is now hunting for a replacement
IDG News Service - Advanced Micro Devices announced Monday that its chief financial officer, Thomas Seifert, has resigned from his post and that a hunt is on for his replacement.
AMD has appointed Devinder Kumar, senior vice president and corporate controller, as interim CFO until a replacement is found. Seifert will stay on at the chip maker until the end of September to help with the transition, AMD said.
Seifert joined AMD in 2008 and has been one of the few remaining executives from the management team that included former CEO Dirk Meyer and former product chief Rick Bergman.
Seifert was made CEO on an interim basis after Meyer's resignation and played a key role in the search for AMD's new CEO, a job other executives including Apple's Tim Cook, Oracle's Mark Hurd and VMware's Pat Gelsinger were said to have shied away from.
AMD ultimately appointed former Lenovo President and Chief Operating Officer Rory Read in August last year.
AMD has since overhauled the management team, appointing Mark Papermaster as chief technology officer and Lisa Su as senior vice president and general manager of the global business units.
Seifert left on his own accord, an AMD spokesman said.
"Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," AMD said in a statement.
AMD has been struggling financially and in July reported that its quarterly profit declined by 40 percent year over year to US$37 million, with revenue dropping 10 percent to $1.41 billion. The company blamed a weak consumer PC market for the lower profits.
Kumar joined AMD in 1984 as a financial analyst. He became corporate controller in 2001.
- Best iPhone, iPad Business Apps for 2014
- 14 Tech Conventions You Should Attend in 2014
- 10 Desktop Apps to Power Your Windows PC
- How to Add New Job Skills Without Going Back to School
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- SDCRAA Case Study: Adapting ERP to business needs This case study goes in depth about San Diego County Regional Airport Authority's created flexibility for a changing industry.
- How 10GbE Network is the Backbone of the Virtual Data Center The shift to a virtual data center has put tremendous strain on legacy networks; driving the need for more speed, lower latency, more...
- Accelerating Network Convergence in Virtualized and Cloud Data Centers Adopting a converged networking strategy enables organizations to traffic server and storage I/O workloads on consolidated data throughput channels. Intelligent software helps optimize...
- 10GbE in the Data Center Improvements in 10GbE technology, lower pricing, and improved performance make 10GbE for the mid-market a viable and cost-effective strategy. This white paper discusses...
- Webinar: Building a Big Data solution that's production-ready Big data solutions are no longer just a nice-to-have.
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well... All IT Careers White Papers | Webcasts