Struggling chip maker AMD has lost yet another one of its top executives. Thomas Seifert, former CFO for AMD, has joined the ranks of the departed. Not too much is known about why he is leaving, other than the uninformative "to pursue other opportunities" reason that is always included in a company's press release when an executive leaves.
"We thank Thomas for his many contributions to AMD and for serving as interim CEO in 2011," said Rory Read, AMD president and CEO. "Thomas' personal commitment to the highest standards of accountability and financial integrity has helped define how AMD does business today. Devinder is an experienced financial executive whose financial expertise and semiconductor experience developed during his 28 year tenure at AMD is an asset to the company."
Seifert will remain the CFO until September 28 at which time Devinder Kumar, senior vice president and corporate controller, will take over as interim CFO. He will remain there while the search for a new, permanent CFO is under way.
AMD has lost a lot of executives in recent months. It will be interesting to see if the new blood they've brought on board will help or hinder the company. We will keep you up-to-date on any more information that comes out regarding Mr Seifert's departure from AMD.