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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: wa
By Spivonious on 7/10/2007 3:09:54 PM , Rating: 2
Oops I meant another two quarters like they already had. Let's hope Barcelona doesn't tank like R600 did.

RE: wa
By smitty3268 on 7/10/2007 3:46:22 PM , Rating: 1
Most of that 600 million dollar loss was buying ATI, and they clearly aren't going to do such a massive deal again anytime soon. So even if Barcelona tanks worse than R600 they'll be around a lot longer than 2 quarters.

RE: wa
By MartinT on 7/10/2007 4:16:32 PM , Rating: 3
The first quarter loss had only a little to do with ATi's acquisition or performance, but was largely due to a huge shortfall in AMD's processor volumes, combined with shrinking ASPs. (AMD stuffed the channel in Q4, and had to sell through that volume first, before being able to move more product in Q1.)

RE: wa
By Chernobyl68 on 7/10/2007 5:10:54 PM , Rating: 2
I just hope AMD can return to profitability before they run out of cash

RE: wa
By TomZ on 7/10/2007 5:17:23 PM , Rating: 4
Here, I corrected that for you:

I just hope AMD can return to profitability before they run out of credit

RE: wa
By smitty3268 on 7/10/2007 10:31:13 PM , Rating: 1
Do you have a source for that, because I was pretty sure that wasn't the case? Could certainly be wrong, though.

"There is a single light of science, and to brighten it anywhere is to brighten it everywhere." -- Isaac Asimov
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