SUNNYVALE, Calif. ó AMD announced it has appointed interim CFO Devinder Kumar to the full time role of senior vice president and chief financial officer, effective Jan. 2, ending a three-month search.
Kumar, 57, who has been interim CFO since September 2012 following the departure of Thomas Seifert, will report directly to AMDís CEO Rory Read, and will be responsible for leading the companyís global finance organization.
A 28-year veteran of the chip company, Kumar previously served as corporate controller at AMD since 2001 and as senior vice president since 2006.
Read said Kumar would drive forward a new business model in the near term, while aiming to strengthen AMDís long-term financial foundation.
They seem to be moving toward a more flexible manufacturing model which means that they become lean on their manufacturing plants. It makes sense tactically but is not great for US based manufacturing folks...
I wonder if now AMD can settled down and start growing again? I have friends that worked at AMD last year who are no longer there and I hope that the company will re-chart their direction and re-energize now that they have a CFO.