Print 78 comment(s) - last by mars777.. on Jul 15 at 7:12 AM

Former ATI president and CEO resigns from AMD

AMD today announced Dave Orton, executive vice president of AMD, has resigned. The resignation is effective in the end of July 2007. Orton was the former president and chief executive officer of ATI before the merger with AMD. A new executive vice president has not been appointed yet.

“It is with mixed feelings that I am leaving AMD,” Orton said. “I am very optimistic about AMD’s future. I believe strongly in the strategies that brought AMD and ATI together and the talented employees of the ‘new AMD’ who are committed to winning in the market by delivering the best possible solutions for customers.”

Orton was one of the “key drivers in the successful integration of AMD and ATI,” according to AMD President and Chief Operating Officer Dirk Meyer. “With his integration work complete and the successful launch of key graphics and chipset products earlier this year, the time was right for Dave to take his personal and professional life in a different direction,” he added.

Despite the “successful integration” of AMD and ATI, the company continues to hemorrhage cash, with debts mounting up fast and an estimated $1.1 billion in the bank. The company also posted a first quarter loss of $611 million USD.  

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RE: lol
By TomZ on 7/10/2007 3:06:44 PM , Rating: 5
Someone should not have a job at the CEO level if they are a bad manager.

RE: lol
By MajorPaver on 7/10/2007 3:26:14 PM , Rating: 5
Heehee. Hohoho.

More often than not, making it to CEO has much less to do with ones qualifications than ones connections and golf skills. If you are an absolute turd, are you likely to make it? 95% of the time, no. It has rarely been my experience that a CEO is the most qualified or skilled in anyway, they are just guys who managed to have a high "Peter Principle" ceiling.

Corporate governance is so screwed up right now, it's not even funny. My wife works for a company that just sold itself for no discernible reason other than a few members of the board WILL MAKE A LOT OF CASH. There appears to be very little shareholder value at all and longterm it looks to be a disastrous marriage. (Can we say Daimler-Chrysler).

RE: lol
By zsdersw on 7/10/2007 7:50:27 PM , Rating: 2
Quite true. You know the saying... what usually floats to the top? Rarely anything good, that's for sure.

RE: lol
By smitty3268 on 7/10/2007 3:49:00 PM , Rating: 4
It reminds me of that old Seinfeld episode, where they kept promoting up the worst employee at Elaine's office so he would do less damage. :)

RE: lol
By lumbergeek on 7/10/2007 8:24:02 PM , Rating: 3
I worked at a company that did that with a guy. Sucked at mechanical engineering - make him a project manager. Sucked at project management - make him the operations manager. Operations tanked - make him a division chief.....

Thankfully new ownership came along and Canned his ass before he became CEO, but then they brought in cronies that didn't know the industry and the company when totally to h***.

"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
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