AMD CEO steps down

11 Jan 2011

AMD CEO Dirk Meyer will step down and will temporarily be replaced by its CFO.

AMD has said the move was a “mutual agreement” with the semi-conductor company’s board of directors.

However, according to sources for the Wall Street Journal, Meyer was pressured out of the role, as the board felt he was not moving quickly enough to improve AMD’s position in the market.

Companies such as Intel and NVIDIA have comfortably stayed ahead of AMD in the market. Their offerings for mobile and tablet computing, as shown at this year’s Consumer Electronics Show, has made things more difficult for AMD.

Meyer was credited as stabilising AMD upon becoming CEO and launched strategic initiatives, such as Globalfoundries, along with settling its litigation with Intel.

The board hopes that changing its CEO will help push the company into becoming a market leader in the field.

Chief financial officer Thomas Seifert will temporarily replace Meyer while the company searches for a permanent replacement.