Chipmaker AMD names new chief financial officer
SAN FRANCISCO (Reuters) - Advanced Micro Devices (AMD.N) 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)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Sony Cyber Attack
Japan and South Korea condemned a hacking attack on Sony Pictures that the United States has blamed on North Korea and said they would cooperate in international efforts against cyber-crime as asked for by Washington. Full Article