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AMD’s Executive Vice President, Henri Richard  (Source: Rahul Sood, DailyTech)
A corporate memo from AMD's CEO claims the company's executive vice president and chief sales and marketing officer leaves September 8

AMD’s Henri Richard plans to step down from his position as executive vice president and chief sales and marketing officer, according to an executive memo forwarded to DailyTech and confirmed by CNET. Richard’s resignation takes effect on September 8.

Richard’s resignation follows last month’s resignation of AMD’s Executive Vice President, Dave Orton. Orton was the former president and chief executive officer of ATI before the merger.

AMD has had a rough year in the CPU and graphics department. Despite a “successful integration” of the two companies, according to Orton, the company faced dramatic delays with its CPUs, chipsets and GPUs.

In its battle with Intel, the company touted the superior native quad-core Barcelona design, but has not launched a single quad-core processor. The company also faced delays with its AMD 690G chipset, which finally launched in February, despite expectations of a 2006 launch. AMD’s HD 2000 series also faced major launch delays, allowing NVIDIA to have a five-month head start in the DirectX 10 markets.

Financially, the company’s debts are mounting up fast after its $5.4 billion purchase of ATI Technologies. AMD’s first quarter loss of $611 million USD left analysts worried. AMD’s second quarter results were not any better, with a $600 million net loss. This forced the company to raise more cash by issuing $2.2 billion Convertible Senior Notes.

There is light at the end of the tunnel, however. AMD’s recent Technology Analyst Day outlined the company’s roadmaps with new technologies and products. The company’s next-generation Fusion architecture and octal-core Sandtiger provides hope in the long run.

AMD has yet to issue an official press release regarding the matter, nor has the company named a suitable replacement. An internal email, sent from Hector Ruiz to all AMD employees, reads the following:
We are sad to announce that Henri Richard has made the decision to leave AMD.

When Henri joined AMD in 2002, his primary mission was to establish a world class global Sales and Marketing organization. It is safe to say that he has accomplished that mission, and he is now ready for a new challenge in his career. While we will certainly miss him, it’s a measure of his success that the organization he leaves behind is fully poised to succeed and capable of maintaining and building the momentum that we built.

In the last five years, we have increased exponentially our global account foot print, acquiring customers of every caliber including the top PC and server OEMs around the world. In fact, from Toshiba and Acer to Lenovo, Dell, Sun and HP, we have become a critical strategic partner to our customers and a key component of enterprise solutions and consumer products worldwide.

Commensurate with this growth in our business, and the strength of our corporate and product brands.  We have a Sales and Marketing organization that can support and continue to grow our strategic importance to our customers. Nevertheless, we know this was a difficult decision for Henri, especially as we are poised to enjoy the successes of our acquisition of ATI, our upcoming quad-core Barcelona product and our strong product and technology roadmaps.

Henri’s official departure date is still pending, and we will communicate a leadership plan shortly.

Look for a Q&A with Henri to appear on AMD Online in the next day or two. Henri will discuss AMD’s accomplishments over the last five years, and our Phenomenal opportunities moving forward.

Please join us in thanking Henri for his leadership and wishing him well in his post-AMD career.
No official reasoning was mentioned by Ruiz for Richard's departure.  Richard's departure comes at a critical time; right in the middle of the upcoming Barcelona launch this quarter and Phenom FX by the end of the year.

Richard, in an interview with DailyTech in January of 2006, vowed the company would not stand still when it comes to new product development.


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well
By Treckin on 8/22/2007 9:12:06 PM , Rating: 2
I believe the key point to notice in these "resignations" is that removal of key executives is often not an individual 'jumping ship', but rather being forced out in a power play or disagreement on the board of executives.
AMD, although in bad shape, is not going anywhere...
The worst to expect of their situation (and only if Barcelona/Agena are horrible flops) is a financial prop provided by Intel (think MS-->Apple). Before AMD could possibly go under, a company their size would undergo waves and waves of layoffs, followed by a slow and arduous liquidation of assets.
The fact that AMD missed that mark by a few notches this year means relatively little to a company with the longevity and financial base of such a substantial and integral entity as AMD.

Please stop with the fire and brimstone posts, AMD isn't going anywhere




RE: well
By thestain on 8/22/2007 9:37:31 PM , Rating: 2
Big Financial Mis-Management is biggest concern to me as AMD Customer and Investor.

When AMD first got word that Intel had it beat in the near future in CPU market, probably earlier than we the Public found out in early 2006, how come AMD was in no rush to issue stock?

One member of the Financial team I am aware of, Stanford grad.. claims.. this takes time.. yet.. six months in committee and NO action is really incompetence when at war financially with the likes of nVidia and Intel.

All the strategies of AMD to merge with Ati, etc.. would be viable ones if AMD had raised in the form of stock and not debt the 4-5 Billion it could have at $30 or more per share well over a year and a half ago.

Since AMD has instead opted to go deeper in debt, the risk to customer and investors has been increased exponentially, especially when one considers the product delays and the competition.

This could be 3DFX and its last gasp mergers while drowning taking place all over again.

AMD is dramatically under-capitalized at this time.

The Stain


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