AMD recentlyÂ announced that its board of directors has appointed Dr. Lisa Su as president and chief executive officer and member of the board of directors, effective immediately. Dr. Su, 44, succeeds Rory Read, 52, who has stepped down as president and chief executive officer, and member of the board of directors, as part of a transition plan. Read will support the transition in an advisory role, remaining with the company through the end of 2014.
“Leadership succession planning has been a joint effort between Rory and the board and we felt that Lisa’s expertise and proven leadership in the global semiconductor industry make this an ideal time for hera to lead the company,” said Bruce Claflin, chairman of AMD’s board of directors. “The board looks forward to continuing to work with Lisa and the rest of the senior management team to build on the company’s momentum. I would also like to thank Rory for his many accomplishments and contributions positioning AMD for long-term success by helping to create a strong foundation and clear path to re-establish the company’s growth and
Commenting on her appointment, Dr. Su said, “I am deeply honored to have this opportunity to lead AMD during this important time of transformation. Our world-class technology assets combined with the incredible talent and passion of the AMD team provide us with a unique opportunity to shape the future of computing. I look forward to expanding on the strong foundation we have built under Rory’s leadership as we develop industry-leading technologies and products for a diverse set of markets to drive sustainable and profitable growth.”
During the last three years, AMD has made significant progress in financial and operational performance. The company returned to non-GAAP profitability and materially diversified its business. Since 2012, AMD has reduced operating expenditures by approximately 30 percent and maintained cash at near an optimal level of $1 billion. AMD also improved its balance sheet by re-profiling its debt with no significant debt coming due until 2019.
Read stated, “I am grateful to have had the opportunity to lead such a talented team and proud of what we have accomplished during such an important chapter in the company’s history. Together, we have established the right strategy to enable AMD to continue to grow and transform. I am confident that Lisa is the right leader to drive AMD forward.”
Watch her first interview here:
DR. LISA SU
President and Chief Executive Officer
Dr. Lisa Su is AMDâ€™s president and chief executive officer and also serves on the companyâ€™s board of directors. Previously, she was chief operating officer responsible for integrating AMDâ€™s business units, sales, global operations and infrastructure enablement teams into a single market-facing organization responsible for all aspects of product strategy and execution. Dr. Su joined AMD in January 2012 as senior vice president and general manager, global business units and was responsible for driving end-to-end business execution of AMDâ€™s products and solutions.
Prior to joining AMD, Dr. Su served as senior vice president and general manager, Networking and Multimedia at Freescale Semiconductor, Inc., and was responsible for global strategy, marketing and engineering for the companyâ€™s embedded communications and applications processor business. Dr. Su joined Freescale in 2007 as chief technology officer, where she led the companyâ€™s technology roadmap and research and development efforts.
Dr. Su spent the previous 13 years at IBM in various engineering and business leadership positions, including vice president of the Semiconductor Research and Development Center responsible for the strategic direction of IBMâ€™s silicon technologies, joint development alliances and semiconductor R&D operations. Prior to IBM, she was a member of the technical staff at Texas Instruments in the Semiconductor Process and Device Center (SPDC).
Dr. Su has bachelorâ€™s, masterâ€™s and doctorate degrees in electrical engineering from the Massachusetts Institute of Technology (MIT). She has published more than 40 technical articles and was named a Fellow of the Institute of Electronics and Electrical Engineers (IEEE) in 2009. Dr. Su was named â€œ2014 Executive of the Yearâ€ at the EETimes and EDN 2014 ACE Awards and was honored in MIT Technology Reviewâ€™s Top 100 Young Innovators in 2002. She also serves on the Board of Directors of Analog Devices.