AMD CEO Dirk Meyer Resigns

Corporate restructuring is rarely news worthy, but when a CEO that took a company from near administration to profitability within 2 years and resigns, then it’s worth paying attention. Dirk Meyer took the reigns of AMD in 2008 and turned it around for the better, so why is he resigning?

Details are scarce at the moment, and one can only speculate to the real motives behind this. There are no nefarious deeds at hand to be worried about (that we know of), so this may be a simple case of a difference of opinion with the Board of Directors. In the AMD press release, there is a note-worthy section:

”However, the Board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company’s ability to accomplish these objectives.”

Speculation over at Anandtech does bring one thing of interest into perspective, AMD’s very close dealings with Advanced Technology Investment Company (ATIC), the Arab Emirates company that bought a large chunk of Global Foundries, AMD’s former Semiconductor Foundry. Now, does this mean that AMD’s Board are interested in further dealings with ATIC and Meyer may of objected? Possibly, but more likely might be the fact that there were no real plans for the smartphone and ultramobile market under Meyer’s reign, a market the Board may be heavily interested in, mainly as a result of both Intel and NVIDIA aggressively pursuing the market.

AMD is currently seeking out a new CEO, with Senior Vice President and CFO Thomas Seifert taking over for the time being.

SUNNYVALE, Calif. — Jan. 10, 2011 — AMD (NYSE: AMD) today announced that its Board of Directors has appointed Senior Vice President and CFO Thomas Seifert, 47, as interim CEO following the resignation of Dirk Meyer, 49, as president, CEO and a director of the company effective immediately.