AMD Names Rory Read to CEO Job

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AMD says Rory Read, who most recently served as Lenovo's chief operating officer, will begin in his new role as CEO of the chip maker immediately. Read spent 5 years at Lenovo after a long career at IBM.

AMD has named Lenovo COO Rory Read as its new CEO, effective immediately. Read will also serve on AMD's board of directors.

Read, 49, has spent the last 5 years at Lenovo after a long career at IBM.

"Rory is a proven leader with an impressive record of driving profitable growth," said Bruce Claflin, chairman of AMD's board, in a statement. "He is ideally suited to accelerate AMD's evolution into the world's leading semiconductor design company. As President and COO of Lenovo he helped take the company into dynamic new markets while growing market share and expanding profitability. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD."

In its statement announcing the appointment, AMD noted that while managing Lenovo's Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability. He was promoted to president and COO in 2009, helping to transform Lenovo into the world's fastest growing major PC manufacturer and achieving its largest worldwide market share ever. Prior to Lenovo, Read spent 23 years at IBM, where he held a broad range of management positions.

"I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," said Read, in a statement. "AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I'm excited to be joining AMD's employees as we write the next chapter not just for the company, but for the industry and consumers around the world."

Thomas Seifert, who served as interim Chief Executive Officer since January, will return to his role as senior vice president and CFO.