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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 Legolias24 on 2/11/2011 11:23:08 AM , Rating: 5
Usually executives have such high compensation because their life is their job. They're working 24/7 believe it or not. I'm not saying that I agree they should have such high compensation but that is one of the reason why they get the big bucks.

Also, their bonuses are tied to a contract that they negotiated with the company. If they get their bonus rain or shine, that's because they negotiated it and the company is obligated to honour that contract. Keep in mind, the bonus they received when the company is in the toilet would pale in comparison to what they would have received had the company been on top of the world. Again I don't agree with it because we 'drones' don't usually get an opportunity to have varying degrees of a bonus whether the company is in the tank or flying high. Usually we get nothing or something.

Just my two cents. I don't know if you could pay me enough to be a CxO because the job never stops...:S


RE: Executives are a dime a dozen
By Taft12 on 2/11/2011 2:15:22 PM , Rating: 2
Far more importantly than working crazy hours is the business network contacts.

Like it or not, if you have the CEO of Intel's cell phone #, you are far more valuable to be in that position than you or I would.


RE: Executives are a dime a dozen
By mcnabney on 2/11/2011 3:11:09 PM , Rating: 4
BS
Executives don't work. People that run small businesses work. The owner of the Mexican restaurant you love to eat/drink at works. He puts in 80 hours a week and if he F's up he isn't going to get a Golden Parachute.

I have been supporting executives for a decade now. They might be 'busy' for 10 hours a day, but half of that time they are just shooting the shiat with their peers or underlings. Their job entails requesting data, listening to presentations, and when everyone agrees with them - making decisions. They are frequently underinformed and their skillsets general consist of speaking manageresse and acting like an arrogant prick.

And they hardly negotiate their own contracts. Board's of Directors love to overpay executives because if they are paid too much they MUST be super, duper, awesome at their job. All the Board cares about is raising the share price for the current quarter so that THEY get paid. Nobody thinks long term. They make groupthink guesses as to where the market is going and want to be rewarded when the obvious happens. But when something unexpected happens they hide behind the 'how could I have know' mask.


RE: Executives are a dime a dozen
By alphadog on 2/14/2011 10:55:51 AM , Rating: 2
Wow. Chip, meet shoulder.


By YashBudini on 2/14/2011 10:45:12 PM , Rating: 2
Not really, but damn surprising the pro-corporatists voted him up.

You see high level government officials detached from reality all the time, why would business be any different?


RE: Executives are a dime a dozen
By Jeffk464 on 2/11/2011 11:28:45 PM , Rating: 3
No, its because they can stack the board and decide what they should get paid.


"People Don't Respect Confidentiality in This Industry" -- Sony Computer Entertainment of America President and CEO Jack Tretton














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