MUNICH, Germany Microprocessor vendor Advances Micro Devices has announced to appoint former Qimonda executive Thomas Seifert as Chief Financial Officer. The CFO position has become vacant since its incumbent Robert Rivet has been promoted to Chief Operations Officer.
At Qimonda, Seifert held both positions of CFO as well as COO from the beginnings of the company and during most of the insolvency process.
Prior to the Qimonda spin-off he oversaw the memory business for parent company Infineon. In his new position, Seifert's desk will stand in AMD's Austin (Texas) campus and he will report to Corporate CEO and President Dirk Meyer.
Meyer called Seifert a talented industry veteran with a wealth of knowledge and experience managing operations and finance of companies in most competitive sectors of the chip industry.
Some observers already aired surprise over Seifert's appointment; according to speculations, AMD would be preparing for less-than-optimal 3Q figures. An AMD spokesperson rebuffed these speculations and called Seifert's appointment "an entirely normal procedure."
My opinion: It never can hurt to have someone on the command bridge who already has weathered stormy times.
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