AMD names a successor to CEO Rory Read-- Dr. Lisa Su, who gets a promotion to CEO and president, effective immediately. In an unusual move Read appeared with Su in the announcement.
"I am confident that Lisa is the right leader to drive AMD forward,” Read remarks. He will remain at AMD in an advisory role until end 2014.
"[W]e felt that Lisa’s expertise and proven leadership in the global semiconductor industry make this an ideal time for her to lead the company,” the AMD board says. “The board looks forward to continuing to work with Lisa and the rest of the senior management team to build on the company’s momentum."
Su is an industry veteran, having spent 13 years in various engineering and leadership positions at IBM before joining Freescale as CTO in 2007. She joined AMD in 2012, where she most recently was COO.
There is currently no word on where AMD will go post-CEO change, but Su says "I look forward to expanding on the strong foundation we have built under Rory’s leadership as we develop industry-leading technologies and products for a diverse set of markets to drive sustainable and profitable growth."
