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Thomas Seifert, CFO and interim CEO is the only top-ranking AMD executive left.  (Source: Flickr)

COO Robert Rivet just left the company, along with SVP Marty Seyer.  (Source: Bit-Tech)
AMD's top executive ranks are now decimated

AMD finally appeared to be gaining traction around the end of 2010; it is doing well with its graphics offerings, delivering its first "Fusion" CPU/GPUs, and preparing for a spring launch of its latest high-power CPU architecture Bulldozer.  But a sluggish response with regards to the mobile sector, including tablets cost AMD CEO Dirk Meyer his job.  Mr. Meyer was shown the door (made to resign), replaced by current CFO Thomas Seifert as interim CEO.

Now two more top AMD executives have either quit or been forced out.

The first is Robert Rivet [profile], AMD's chief operating officer.  He was AMD's chief financial officer from 2000 to 2008.  In 2008 he switched from the CFO post to the COO post.  He was replaced as CFO by Mr. Seifert. 

The second executive is Marty Seyer [profile], senior vice president of corporate strategy.  Mr. Seyer's efforts largely focused on the server and IT sales angle, managing the microprocessor unit.  He joined the company in 2002.

AMD is claiming both executives left to pursue "other opportunities".  Writes [press release] a company spokesperson, "Having made significant contributions to the company over the years, Bob [Rivet] is leaving to pursue new opportunities. He will remain through a brief interim period to help ensure a seamless transition. Like Mr. Rivet, Mr. Seyer is also leaving AMD to pursue new opportunities and will stay on for a brief period to ensure a seamless transition."

In Mr. Seyer's case, more likely he, like Mr. Meyer, was outed.  Under Mr. Seyer's watch server sales slumped.  States Doug Freedman, an analyst with Gleacher & Co., comments to the EE Times, "It's hard not to think that the heat in the kitchen got to him."

With Mr. Rivet, the situation is less clear-cut.  He may have been bitter about being overlooked for the interim CEO position.  Or he may have been forced out.  Or he may really have left to pursue a more promising opportunity.  No one seems quite sure in that regard.

One has to wonder, though, how much these departures will hurt AMD's prospects in the electronics industry.  Or perhaps they will be just what the company needed -- jump starting right when it has its biggest opportunity, with Intel struggling with Sandy Bridge woes.



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RE: Executives are a dime a dozen
By Mathos on 2/11/2011 10:11:24 AM , Rating: 3
Same thing in retail, especially on a store by store basis. I've been watching the store I've worked at for the last 4 years, be taken down to one of the worst in the district in the last 2 years by poor management. Prior to that we were one of the top performing stores. Of course you know anyone whose hourly hasn't received a bonus or much of one during this time. And during this time, said companies corporate management has been making things worse, or doing nothing useful at all, to try and get stock prices to rise. When instead they need to focus on the core values of the company that use to carry it through even bad economic times.

But when it comes down to it, this is what happens when people who have no real knowledge or interest in the actual company are allowed to dictate how it's run. This is one of the biggest reason Innovation as stopped for the most part, or expansion of services. When people who do nothing but sit on a board, and want stock money run things, all decisions will be made to what they think will get more money. Regardless of whether the market they think should be gotten into is already saturated.


RE: Executives are a dime a dozen
By yuhong on 2/11/2011 4:36:35 PM , Rating: 2
Yea, I have talked about the myth that MBAs can run everything before.


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