AMD Appoints Lisa Su Chief Executive, Replaces Rory Read
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Advanced Micro Devices Inc. appointed Lisa Su chief executive officer to replace Rory Read, swapping an executive who has stabilized the chipmaker’s finances for one who will try to make its technology competitive. The stock fell.
The promotion of Su, 44, an engineer who had been chief operating officer, is effective immediately, the company said in a statement yesterday. Read, 52, who is also stepping down from the board, will remain with AMD through the end of the year in an advisory role, the Sunnyvale, California-based company said. Read had been CEO since 2011.