Mere days after AMD's "Fusion era" began, the Dirk Meyer era ended. The company's president and CEO resigned Monday afternoon, effective immediately. "Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of Global Foundries, the …
Fare well captin Dirk
Not that i follow AMD's executive staff or pay much attention to what they do, this came as a surprise to me. I know that AMD groomed and preped captain Dirk for some quite some time in preparation of replacing Hector Ruiz. So to see him leave so soon is somewhat shocking to me.
Its a shame to see him go, he has done wonderful things in the CPU world, some of his work has even reached legendary status, changing the face of modern computing as we knew it at the time.
He was with AMD for 15 years and with Dec before that, having worked on the team that designed and built 2 of Dec's Alpha processors, then led the team at AMD that designed and built the first Athlon CPU's, a product that kicked Intel right square in the ass and made them start innovating again.
My hat goes off to you Mr. Meyers, you've done wonderful things for the modern computing world, I hope the rest of your life is as successful as the past...
Taking: "The Board believes we have the opportunity to create increased shareholder value over time."
...and translating it from business flannel into English, gives: "We want a hatchet man at the helm and Dirk ain't it".
Every time I've heard some waffle about "increasing shareholder value" it's been inevitably followed by a massive cost-cutting exercise including a redundancy-fest up in the bloodbath category. If I were working for AMD, I'd be getting nervous about now.
What they intend is "increasing shareseller revenue", someone who intends to hold his shares for more than a couple months might not be happy.
Board to shareholder translation & opportune timing for Intel/NVidia news
@"The Board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company’s ability to accomplish these objectives."
Translation: Hey shareholders, don't worry, you'll be rich if you stay with us, please stay with us, please, please stay.
Meanwhile, Intel just happens to announce on the day AMD gives out this news, that Intel are now working with Nvidia and giving Nvidia $1.5bn. I very much doubt that's purely coincidental. It very likely simply a case of an insider in AMD has learned their CEO is leaving and then told someone at Intel/NVidia about it and their marketing & PR people then just arrange a big press release ready to release at the most opportune moment of maximum effect against their joint biggest competitor. Which helps to boost's Intel's and NVidia's business image whilst also diminishing AMD's image in the eyes of business people who are choosing who to licence & use their technology.
Its often said business planning is like tactical war planning. Business people even use Sun Tzu Art of War concepts in business planning. It looks very much like Intel/NVidia have waited to release this news at a time they know they can hit out best against their joint competitor. After all they can work together for months without announcing it, so their PR people can wait months to release news at times of maximum effect.
Whitch begs the question...
Why AMD did not wait until a successor was selected to make Meyer step out?
Preferably combining it with Meyer saying is He who wanted out, instead of the board axing him...
This "temp CEO" thing is just bad press no matter how you put it.
"while a search committee led by Claflin trolls for a new". Is that a sort of pressgang? Does it dig deeper than trawling?
I like the new management style - we need a new CEO, send out the trolls.
- Facebook offshores HUGE WAD OF CASH to Caymans - via Ireland
- Microsoft teams up with Feds, Europol in ZeroAccess botnet zombie hunt
- Justin Bieber BEGGED for a $200k RIM JOB – and got REJECTED
- Review Bigger on the inside: WD’s Tardis-like Black² Dual Drive laptop disk
- Inside Steve Ballmer’s fondleslab rear-guard action