By Noel Randewich
SAN FRANCISCO (Reuters) - Advanced Micro Devices said on Wednesday it promoted senior executive Devinder Kumar to chief financial officer after the struggling PC chipmaker announced in September its previous CFO was leaving.
Kumar, a 28-year AMD veteran, had been standing in as CFO since AMD announced the departure of Thomas Siefert, who was liked by many on Wall Street.
Since 2001, Kumar was corporate controller at AMD, which like other PC-related companies has been hit by a slump in demand as smartphones and tablets grow in popularity.
AMD, one of Silicon Valley's oldest chipmakers, has been laying off engineers while looking for new markets for its chips as it faces dwindling cash reserves.
(Reporting By Noel Randewich; Editing by Tim Dobbyn)
Bad News: Millennials, America's Largest Generation, Prefer Socialism Over Capitalism
Moderator alerts Sanders his victory could 'thwart history'
For what it’s worth: Trump 32, Cruz 26, Rubio 20, Bush 10 in private poll of South Carolina
Concealed Carrier Saves Cop Swarmed By "Unarmed" Youths
New Jersey Man Slays Child | Human Events
Flint’s Water Poisoned by Federal, State and Local Government Failures
BREAKING RUMOR. Ted Cruz Trails Trump By Only Six In South Carolina. Marco Rubio Closing the Gap. | RedState