AMD ends CEO search, hires Lenovo veteran

Reuters News
Posted: Aug 25, 2011 9:49 AM
AMD ends CEO search, hires Lenovo veteran

NEW YORK (Reuters) - Advanced Micro Devices Inc <AMD.N> named Rory Read as its new chief executive on Thursday, hiring the Lenovo Group Ltd <0992.HK> executive after a search that began in January.

A technology industry veteran, Read, who previously served as Lenovo's president and chief operating officer, will be charged with narrowing the gap between AMD and top PC chipmaking rival Intel Corp <INTC.O>.

Read, 49, will take over from Tom Seifert, who has served as the temporary leader since the company's board ousted Dirk Meyer more than half a year ago, after they disagreed over the chipmaker's strategy to establish a footprint in a booming market for mobile devices.

(Reporting by Paul Thomasch, editing by Gerald E. McCormick)