AMD has announced that its board of directors has appointed senior vice president and CFO Thomas Seifert as interim CEO following the resignation of Dirk Meyer as president, CEO and a director of the company effective immediately.

A CEO search committee has been formed to begin the search for a new CEO. The committee is led by Bruce Claflin, chairman of AMD's board of directors, who has been named executive chairman of the board as he assumes additional oversight responsibilities during the transition period. Seifert will maintain his current responsibilities as CFO and has asked not to be considered for the permanent CEO position.

Seifert joined AMD in 2009, and has more than 20 years of general management, global operations and financial management expertise. Immediately prior to joining AMD, Seifert served as COO and CFO of Qimonda AG, where he led the formation and subsequent IPO of the company. At Infineon AG, Seifert served as senior vice president and general manager in its wireless business group.

In commenting on Seifert, Claflin said, "During his tenure at AMD, Thomas helped strengthen the company's balance sheet while demonstrating strong leadership and winning the respect of his peers. His operations and finance experience make him an excellent choice to guide the company as interim CEO."

By: DocMemory
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