2008 hasn’t quite proven to be the “phenomenal transition year” AMD believed it would be. Despite new leadership and a restructuring of its manufacturing assets, the company was not able to return to profitability by the third quarter of 2008 as it had hoped. And now, AMD has reported a greater-than-expected net loss for the fourth quarter of 2008—its ninth consecutive one.
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Advanced Micro Devices has tapped Chief Operating Officer Dirk Meyer as its new CEO, replacing Hector Ruiz. Ruiz will become executive chairman of AMD and executive chairman of the board of directors.
Ruiz announced the leadership change during AMD’s second-quarter financial earnings conference call. “The time is right to turn the company over to a new leader,” he said.
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It’s slower than initial expectations and about six months later than originally promised, but Advanced Micro Devices’ quad-core Opteron (Barcelona) processor is still a milestone for the company and perhaps an antidote for its sagging financial fortunes.
The new server chip, which puts four processors on a single silicon die, is the first of its kind [...]
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