Forget about the East coast earthquakes, all the moving and shaking of late is taking place in Silicon Valley and other technology hotspots. This past week alone has seen HP's TouchPad emerge as the most sought after tablet, Steve Jobs resign as CEO of Apple, Acer post a quarterly loss for the first time in company history, and AMD finally pick a new captain.
AMD today announced that its Board of Directors has appointed Rory P. Read as the company's new skipper, or more officially, President and Chief Executive Officer. The chip maker plucked Mr. Read from U.S.S. Lenovo, where he served as President and COO.
"Rory is a proven leader with an impressive record of driving profitable growth," said Bruce Claflin, Chairman of AMD's Board of Directors. "He is ideally suited to accelerate AMD’s evolution into the world’s leading semiconductor design company. As President and COO of Lenovo he helped take the company into dynamic new markets while growing market share and expanding profitability. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD."
AMD credits Mr. Read with driving double-digit growth at Lenovo, as well as reversing operating losses and maintaining consistent profitability. Lenovo wasn't as specific in its praise of Mr. Read, but did offer up a few kind words that would indicate he didn't burn any bridges by leaving.
"Rory Read has made a significant contribution to our success during his time as president and COO at Lenovo. His selection as CEO of AMD is a great reflection of the way the industry views Lenovo’s talent and our performance," Yang Yuanqing, CEO of Lenovo, said in a statement .
Lenovo said it has no immediate plans to name a new President and/or COO. Over at AMD, interim CEO Thomas Siefert will return to his role as Senior Vice President after filling in for former CEO Dirk Meyer since January 2011.
Image Credit: Lenovo