Three Key AMD Execs Pack Their Bags, Head For Exit Door
Big changes are occurring at Advanced Micro Devices (AMD), the Sunnyvale chip designer that suddenly finds itself in a bit of an accelerated restructuring mode. Having been appointed president and CEO of AMD in October 2014, Lisa Su is wasting no time putting into motion her vision for the company's future, which in the short terms involves three high level executives leaving the company.
Revealed in an 8-K filing and through a company spokesman today, the three executives jumping ship include John Byrne, general manager of AMD's computing and graphics business; chief marketing officer Colette LaForce; and chief strategy officer Raj Naik. Their pending departures follow last year's reorganization efforts that saw the consolation of various business groups into two groups, along with the appointment of Dr. Lisa Su as COO and, more recently, CEO.
John Byrne is leaving AMD to "pursue other opportunities," but will remain on board until March 31, 2015
"These changes, including the additions of Forrest Norrod and James Clifford to our management team last quarter, collectively are part of implementing an optimal organization design and leadership team to further sharpen our execution and position AMD for growth," AMD said in a statement.
It's been a rough road for Dr. Su so far. After replacing Rory Read as AMD's chief and announcing plans to layoff 7 percent of the company's workforce, AMD soon after reported a 65 percent drop in third-quarter profit, along with projected fourth-quarter revenue that was roughly 13 percent less than the period ended in September.
On the plus side, AMD has been able to inject its hardware into all three modern generation console releases -- Wii U, PlayStation 4, and Xbox One.
Revealed in an 8-K filing and through a company spokesman today, the three executives jumping ship include John Byrne, general manager of AMD's computing and graphics business; chief marketing officer Colette LaForce; and chief strategy officer Raj Naik. Their pending departures follow last year's reorganization efforts that saw the consolation of various business groups into two groups, along with the appointment of Dr. Lisa Su as COO and, more recently, CEO.
John Byrne is leaving AMD to "pursue other opportunities," but will remain on board until March 31, 2015
"These changes, including the additions of Forrest Norrod and James Clifford to our management team last quarter, collectively are part of implementing an optimal organization design and leadership team to further sharpen our execution and position AMD for growth," AMD said in a statement.
It's been a rough road for Dr. Su so far. After replacing Rory Read as AMD's chief and announcing plans to layoff 7 percent of the company's workforce, AMD soon after reported a 65 percent drop in third-quarter profit, along with projected fourth-quarter revenue that was roughly 13 percent less than the period ended in September.
On the plus side, AMD has been able to inject its hardware into all three modern generation console releases -- Wii U, PlayStation 4, and Xbox One.
