TechLookz

AMD announced today that Hector Ruiz is stepping down from his position as chief executive officer in favor of President and COO Dirk Meyer, who was elected by the board of directors to fill the newly opened position; in turn, will become executive chairman of AMD and chair of the board of directors. Ruiz, 62, joined AMD as president and chief operating officer in January 2000 and became AMD's chief executive officer on April 25, 2002. "AMD has fundamentally altered the industry landscape, leading the innovation agenda while delivering greater choice and better experiences for our customers and users," said Ruiz. "Dirk is a gifted leader who possesses the right skills and experience to continue driving AMD and the industry forward in new, compelling directions. I am placing the company in excellent hands."

"Dirk’s election to CEO is the final phase of a two-year succession plan developed and implemented jointly by AMD’s board of directors and executive team," said Robert Palmer, lead independent director. "Under Hector’s strong leadership, AMD drove the industry adoption of pervasive 64-bit and multicore computing, became a trusted enterprise-class partner to leading technology suppliers and significantly expanded its global footprint in high-growth markets like China."