HECTOR RUIZ OUT AT AMD AS CEO!!!! (AMD)

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By Douglas A. McIntyre Updated Published
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Amd_logo_2Ruiz_pic_2AMD (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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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