AMD Changes CEO as Chip Maker Struggles

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Hector Ruiz is out! The news just hit the wire, AMD has changed CEOs, Ruiz is out Dirk Meyer is in.

Ruiz, 62, who had been the only person to head AMD other than founder and longtime CEO Jerry Sanders, is stepping down as chief executive but will remain on the board of directors. Ruiz, one of the few Hispanic CEOs of a major U.S. corporation, had also been AMD chairman but now takes on the title of executive chairman, a distinction that lets him retain some day-to-day responsibilities.
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This is Loooooooooooooooooooooooooooooooooooooooooooooooooooooooooooong overdue.

And I didn't know [H] has been around since 1970, Steve-O. :D
 
Damn steve, you are really on top of things today. 5 mins after the webcast ends you've got links!

You have your schedule setup to give the good/bad news on August 12th too?
 
Goodbye, good riddance, don't let the door hit you in the ass on the way out.
 
I wonder how this will affect their stock price.

I.e. is this good news or bad news?
 
vengence said:
Damn steve, you are really on top of things today. 5 mins after the webcast ends you've got links!

You have your schedule setup to give the good/bad news on August 12th too?
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Of course ;)


Stuff like this is big news, I post it as it happens...don't wanna get caught sleeping on the job :D
 
Steve said:
Stuff like this is big news, I post it as it happens...don't wanna get caught sleeping on the job :D
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Which happens frequently :D

jk

I hope this means that there is a turnaround ahead and not another lemon ceo
 
hegulator said:
I wonder how this will affect their stock price.

I.e. is this good news or bad news?
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It didn't help much. AMD is down 6.6% after hours. The main reason is that AMD missed estimates by almost 50%, without including the "one time charges" which didn't make things any better. Now AMD is getting rid of ATI's handheld (mobile phone) and digital TV (set top box and HDTV chips) divisions. Smells like desperation and squandered opportunities.
 
I'm really surprised they're letting him stay on the board. All he's done in the last few years is lead the company down the shitter.

At least ATI is finally competitive again.
 
After-hours is most displeased with the departure of Ruiz. But that may be more the reaction to earnings.
 
I already started this thread a good ten minutes before it went on the front page of HardOCP.
 
I guess one of the first questions we should ask, now that Mr Ruinous..err.. Ruiz has left, is... how much better can/will the new guy do, and how connected was he to the epic fails recently associated with AMD?

He's being replaced as CEO by AMD's current chief operating officer, Dirk Meyer, 46, an engineer and chip designer who has been helping Ruiz run the company since 2006. That means he knows AMD's operations intimately but also that he shares some of the responsibility for the company's financial distress.
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Engineer and chip designer, eh? I'm at least intrigued. I wonder for what he was responsible as a chip designer.
 
knob said:
Engineer and chip designer, eh? I'm at least intrigued. I wonder for what he was responsible as a chip designer.
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Just little chips known as the Alpha and Athlon, have you heard of it? He recycles ideas, but hey, who doesn't? :p

(sorry fake steve)
 
Dirk Meyer seems like a smart guy. Engineering and business education, loads of experience... Sounds like the hero AMD has been waiting for.
 
I don't think poor management and a single person can be blamed for all of AMD's problems.. Core2 would still have beaten the X2 and the Phenoms would still have ran hot and scaled poorly... Still, maybe AMD wouldn't be in such deep financial trouble with better management. I hope this turns out to be a change for the better.
 
JimmiG said:
I don't think poor management and a single person can be blamed for all of AMD's problems.. Core2 would still have beaten the X2 and the Phenoms would still have ran hot and scaled poorly... Still, maybe AMD wouldn't be in such deep financial trouble with better management. I hope this turns out to be a change for the better.
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There were other things that could've made a difference. In my opinion, the reason why AMD botched Phenom was because they tried to do too many things at once. They were going with a new architecture, on a never before done native quad core design, on a new manufacturing process. They should have done what Intel did. Use a mature manufacturing process and use two dual core dies. Then after they had the design down, scale to 65 nm and eventually the native quad core design. It still may not have scaled as well as they would have liked, but there probably wouldn't have been such a delay in release, and they probably wouldn't have had to cut their margins as much. Remember, that although Phenom doesn't beat Core 2 it is still faster than an X2.
 
DeathFromBelow said:
Dirk Meyer seems like a smart guy. Engineering and business education, loads of experience... Sounds like the hero AMD has been waiting for.
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I wish but he isn't an outsider and has been a big part of the AMD around today so I doubt this will mean anything huge if you want a big turnaround.
 
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