Monday, May 9, 2011
AMD's search for a new CEO is progressing, according to Thomas Seifert, AMD CFO and interim CEO.
Seifert took on the dual role after Dirk Meyer abruptly resigned AMD's CEO seat in January.
"The board is very happy with the interest we have received and is actively interviewing candidates," Seifert said briefly on a call with financial analysts Thursday afternoon discussing AMD's Q1 numbers.
Seifert did not provide any details on the candidates and would not provide a timeline for the hiring. "It's in the hand of the board," he said during the Q&A portion of the call. "Our chairman was explicit that finding the right candidate is important -- more important than hitting a specific time window. They [the board] are happy with the progress we have been making and they're actively interviewing."
It is widely believed that Meyer left AMD due to disagreement with the board regarding how to best play in the tablet market.
During the Q1 call, Seifert said the company is not yet ready to state tablet plans. "We have a lot of IP and it is going to play nicely in this field," he said. "We are working with multiple OEMs on platforms. Once we are at a good spot to talk about it, we will become more specific."
Despite the lack of a permanent CEO, AMD executed a solid Q1 that beat Street estimates. Revenue was at $1.61 million, down slightly from Q4 2010's $1.65 million in revenue and up slightly from Q1 2010's $1.57 million in revenue. AMD said the sequential sales dip was due to a seasonal decline in game console revenue and lower server and notebook microprocessor sales driven by ASP (average selling price) declines.
By: DocMemory
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