As company posts £600 million quarterly loss.
Hector Ruiz has announced that he will be stepping down as CEO of AMD, with the company’s Chief Operating Officer Dirk Meyer taking his place in charge. Ruiz, meanwhile, will stay on at AMD as the Board of Directors’ Executive Chairman.
The now-former CEO probably hasn’t had the best ride over the last couple of years. Since the company’s purchase of ATI back in 2006, AMD has consistently haemorrhaged money and staff (it doesn’t even have a CTO right now) since its acquisition of ATI back in 2006.
AMD’s last quarterly postings, for example, show the company made a net loss of $1.189 billion (~£600 million). Add that to the recent reporting that AMD’s share value was the lowest in four years making the company worth less than the $5.4 bilion it paid to acquire ATI. Intel has, meanwhile, in the same period made a $1.6 billion ”profit” – a stark contrast by anyone’s reckoning!
It’s not all bad for AMD, though. The latest iteration of its graphics cards, the TR Editors Choice award-winning AMD ATI Radeon HD 4870 for example, are definitely a step in the right direction for the company. Hopefully for AMD and its proponents, things will (continue to) improve under the new leadership.