Lenovo Veteran Picked as AMD's New President and CEO

Lenovo Veteran Picked as AMD's New President and CEO

The search for a new CEO for AMD is over. AMD announced that its Board of Directors has appointed Rory P. Read, 49, President and Chief Executive Officer of AMD. Mr. Read has also been appointed to the Company's board of directors.

(Source:  AOL Inc.)

The announcement concludes a seven-month search after AMDss previous CEO, Dirk Meyer, was ousted in January due to a disagreement with the board over the company’s failure to regain traction in the server market and move into the rapidly growing tablets and smartphones business.

Read will take over from Tom Seifert, who served as the temporary leader after Meyer's departure. He will be charged with the difficult task of pushing the company towards a more mobile world, while also narrowing the gap between AMD and Intel in the x86 microprocessor market, which is still both chipmakers' bread and butter.

During his time at Lenovo, Read rose from managing Lenovo's Americas group and driving double-digit revenue growth all the way to up to the role of president and COO of the company in 2009. Prior to his stint at Lenovo, Read spent 23 years at IBM, where he held a range of management positions.

For the press release from AMD, please click here.

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