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Comments: 1 +-   AMD loses $1.2 billion and its CEO-> on Friday July 18 2008, @04:21AM Barence

Submitted by Barence on Friday July 18 2008, @04:21AM
amd
Barence writes "AMD's chief executive officer Hector Ruiz has resigned, after the company posted second quarter losses of almost $1.2 billion. Ruiz, who has been in the post for six years, will make way for Dirk Meyer, who was previously the company's president and COO. Meyer becomes only the third CEO ever of the troubled chipmaker, following Ruiz and company founder Jerry Sanders. "The time is right to turn the company over to a new leader," Ruiz said. The company's financial results certainly lend weight to Ruiz's verdict. AMD made a loss of $1.18 billion in Q2 of 2008 on revenue of $1.349 billion."
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