AMD (NYSE:AMD) must have read our earnings synopsis and must have finally read enough times over and over about canning Hector Ruiz. He’s finally out, albeit not 100% of the way as he should be.
The company just announced that the board of directors has FINALLY elected President and COO Dirk Meyer as the company’s new chief executive officer.
Meyer succeeds Hector Ruiz, who will become executive chairman of AMD and chair of the board of directors.
So it looks like Mr. Ruiz is getting to keep his finger in the pie, butthis is a start so long as he lets Dirk Meyer run the show on his ownterms and not under the Ruiz plan. Shares were down as much as 8% or so after we posted the earnings report, but now shares are down about 5%. If they’d pull that Chairman title out of Ruiz’ hands and yell "DO OVER!" they’d likely get that stock back up.
Jon C. Ogg
July 17, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
