AMD CFO Seifert resigns

The chip maker is now hunting for a replacement

Advanced Micro Devices announced Monday that its chief financial officer, Thomas Seifert, has resigned from his post and that a hunt is on for his replacement.

AMD has appointed Devinder Kumar, senior vice president and corporate controller, as interim CFO until a replacement is found. Seifert will stay on at the chip maker until the end of September to help with the transition, AMD said.

Seifert joined AMD in 2008 and has been one of the few remaining executives from the management team that included former CEO Dirk Meyer and former product chief Rick Bergman.

Seifert was made CEO on an interim basis after Meyer's resignation and played a key role in the search for AMD's new CEO, a job other executives including Apple's Tim Cook, Oracle's Mark Hurd and VMware's Pat Gelsinger were said to have shied away from.

AMD ultimately appointed former Lenovo President and Chief Operating Officer Rory Read in August last year.

AMD has since overhauled the management team, appointing Mark Papermaster as chief technology officer and Lisa Su as senior vice president and general manager of the global business units.

Seifert left on his own accord, an AMD spokesman said.

"Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," AMD said in a statement.

AMD has been struggling financially and in July reported that its quarterly profit declined by 40 percent year over year to US$37 million, with revenue dropping 10 percent to $1.41 billion. The company blamed a weak consumer PC market for the lower profits.

Kumar joined AMD in 1984 as a financial analyst. He became corporate controller in 2001.

Agam Shah covers PCs, tablets, servers, chips and semiconductors for IDG News Service. Follow Agam on Twitter at @agamsh. Agam's e-mail address is agam_shah@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Agam Shah

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?