AMD Loses Respected CFO

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According to the Associated Press, AMD's Chief Financial Officer Thomas Seifert is leaving the company. Devinder Kumar, senior VP and corporate controller, will serve as CFO until a replacement is found.

Advanced Micro Devices Inc said Chief Financial Officer Thomas Seifert was leaving the struggling personal computer chipmaker to pursue other opportunities, sending its shares down almost 12 percent. After filling in as AMD's temporary CEO through August last year, Seifert now wants to find a permanent CEO position, a source close to the company said.
 
So sad. I feel the company made more progress under Seifert's interm than it has so far under the string of dismissals that Rory Reed has left in his wake.
I agonize as to how AMD's board could have put someone who knows litterally nothing about the chip making business in the position of CEO.

Dirk Meyer (an excelent CEO) was asked by the board to resign, and they didn't even have a backup. I think Rory was a desperation move for the dying company. But the steady stream of exiting execs who do know what they're doing are a testament to Rory's ineptitude. Anyone who knows anything doesn't want to work with the guy.
 
So sad. I feel the company made more progress under Seifert's interm than it has so far under the string of dismissals that Rory Reed has left in his wake.
I agonize as to how AMD's board could have put someone who knows litterally nothing about the chip making business in the position of CEO.

Dirk Meyer (an excelent CEO) was asked by the board to resign, and they didn't even have a backup. I think Rory was a desperation move for the dying company. But the steady stream of exiting execs who do know what they're doing are a testament to Rory's ineptitude. Anyone who knows anything doesn't want to work with the guy.

They were fucked a long time before Dirk left. AMD has been sliding into oblivion ever since the Thunderbird was hot stuff.
 
Anything that hurts AMD sucks. AMD needs to be strong to compete with Intel or we will be the ones suffering.
 
investor overreaction.

what can the old CFO do that the interim can't? Kumar has been at AMD for 28 years already.
I'll bet he's as qualified or more.
 
I wonder if this is a good time to scoop in and pick up some cheap stock options. I mean, what are the odds of the price dropping even further.....:(
 
They haven't lost quite yet. It really depends on Intel getting far enough ahead with CPU porocessing power that AMD products no longer have common viability.
 
Shoot, I remember just a few months ago reading a few articles where it was claimed that at $8/share AMD stock was an absolute steal. Glad I didn't listen as it is sitting at $3.67/share right now.
 
^buying stock is a pure gamble anyway. You never know which way a stock will go for a company like this. Articles are usually bullshit, written by someone with an ulterior motive.

It was sheer luck I sold all my shares at $8.13 before it tanked big time. It could have gone up further, no one knows. I take what I can get and I run.

I think amd will slowly climb back toward $4 as people start to forget about this resignation.

It's still a shittyass stock. No dividends, and inferior products with low margins. Might be good to trade here and there. But not something to hold for the near term. All the PC stocks are getting trashed.
 
Shoot, I remember just a few months ago reading a few articles where it was claimed that at $8/share AMD stock was an absolute steal. Glad I didn't listen as it is sitting at $3.67/share right now.

You shouldn't take trading advice from someone who writes for a living. I'll let you figure out why.
 
what can the old CFO do that the interim can't? Kumar has been at AMD for 28 years already.
I'll bet he's as qualified or more.

yes but even he has limits and even he might be able to do the job better than anyone he can't do everything (as him being VP is not easy atm)
 
I thought we got passed the whole "Intel is the boogieman" thing. :rolleyes:

Sounds like you pulled the boogieman out of your butt. Competition is good and healthy, this would be just as sad if AMD were the juggernaut and Intel looked like they were about to slip into oblivion.
 
goodness I work for a company thats almost as valued as much as AMD is currently.... Thats frightening to me and heartbreaking. We need competition in the market which benefits us the consumer.
 
goodness I work for a company thats almost as valued as much as AMD is currently.... Thats frightening to me and heartbreaking. We need competition in the market which benefits us the consumer.

There's always Intel vs Intel. They haven't really had competition from AMD for a long long time. But they do have to compete with the older generation of Intel hardware to keep people paying for upgrades, even though they are way ahead of AMD (on the home front anyway, on the server market it's a bit less certain, and server technologies usually make their way to home machines).
 
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