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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: 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.

"Mac OS X is like living in a farmhouse in the country with no locks, and Windows is living in a house with bars on the windows in the bad part of town." -- Charlie Miller
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