Lisa Su has been appointed the new Advanced Micro Devices, Inc (NYSE:AMD) chief executive to replace Roy Read who is said to have resigned from his position. Read has been instrumental in stabilizing the company’s financial performance. He is credited to have stabilized the company’s performance at a time when the PC market was doing badly. Lisa Su is an expert of Semiconductors, and she will help the success of the company in this industry.
The new CEO brings enormous engineering experience, something that’s expected to help her make the company’s products more competitive. Su was the company’s operating officer before being promoted to the new position.
Information released to the public indicated that the board of Advanced Micro Devices, Inc (NYSE:AMD) together with Read had developed a plan for the transition. This can be bolstered by the fact that Read was together with Su in the conference when the transition was officially announced.
Read praised Su’s qualifications saying that she is best fitted to serve the company in the position. He said that the company had trained and groomed her, making her uniquely positioned for her new role as the chief executive.
“I look at it as a natural move here,” Read said of Su. “She’s a semiconductor professional. She loves this space.”
The x86 microprocessor market is currently dominated by Intel, with Advanced Micro Devices, Inc (NYSE:AMD) being the most viable competitor. Su coming into the new position provides an opportunity to reenergize its performance so as to benefit more from the PC market.
Read, who has been the company’s CEO since 2011, will also relinquish his position at the board but will remain with the company as a consultant.
Su, who joined the company in 2012, said that the company will embark on a process of streamlining the company’s products while at the same time focusing on diversification. She assured that Advanced Micro Devices, Inc (NYSE:AMD) won’t abandon the x86 microprocessor production.
This article has been written by Victor Ochieng.