Advanced Micro Devices Hires New CIO

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Advanced Micro Devices may still be looking for a CEO, but the tech giant has managed to fill the position of CIO.

AMD has appointed Mike Wolfe, a CIO who most recently served as vice president of IT for product development and engineering at HP for the last five years. Wolfe will be responsible for managing AMD’s global technology infrastructure and will report to Thomas Seifert, senior vice president and chief financial officer and interim CEO.

"Mike has effectively led IT transformations constantly focusing on reducing operating costs and significantly improving business innovation,” said Seifert, in a statement.  “His considerable talent and experience will help AMD to continue strengthening our IT infrastructure and streamline our business based on our own products and platforms.”

In January, AMD launched its search for a new chief executive officer following the resignation of Dirk Meyer. "Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of GLOBALFOUNDRIES, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market," said Bruce Claflin, chairman of AMD's Board of Directors, in a press release.

With word of Meyer’s departure spreading fast, AMD seized the opportunity to release preliminary results for its fourth quarter 2010. Fourth quarter revenue increased 2 percent sequentially to approximately $1.65 billion and gross margin was approximately 45 percent. 

Analysts speculate that Meyer’s resignation could stem from AMD’s struggle to keep pace with rival Intel. Earlier this month, TechZone360.com reported that Intel released its next line of chips, just in time for this year’s Consumers Electronics Show. Called “Sandy Bridge,” the chips combine a graphics processor and one or more CPU microprocessor(s) on one silicon die, according to the Inquirer.




Edited by Tammy Wolf

TechZone360 Contributing Editor

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