 |
|
|
|
|
AMD President And CEO Hector Ruiz Appointed Chairman-Elect By Board of Directors
-- Founder Jerry Sanders to be Honored as Chairman Emeritus --
Sunnyvale, CA -- February 11, 2004 --AMD (NYSE: AMD) today announced that its Board of Directors has appointed President and CEO Hector Ruiz as Chairman-elect. Ruiz is expected to become Chairman of the Board following the company’s annual meeting on April 29 of this year.
"When Hector Ruiz became CEO in April of 2002, he faced an extremely challenging semiconductor industry environment. The actions and initiatives undertaken during his tenure have returned AMD to profitable growth while positioning us for leadership in all the industry sectors where we participate," said W. J. Sanders III, founder and Chairman of AMD. "Hector embodies the customer-focused values and unwavering commitment to free and open competition which define the culture of AMD. Under his leadership and vision, and with the full support of his colleagues on the board, I believe he is ideally suited to take AMD to the next level."
“Our announcement today reflects a considered and deliberate leadership succession plan for AMD’s board of directors and represents a significant milestone in AMD’s history,” said Robert B. Palmer, lead independent director and chairman of the nominating and corporate governance committee of the board of directors. “Jerry Sanders, the founder and current chairman of AMD, has been a defining leader of the semiconductor industry for 35 years. His continued involvement in helping to shape AMD’s vision and strategy as Chairman Emeritus and as a colleague on the board will be invaluable. The mentoring Jerry has provided Hector has enabled AMD to effectively and seamlessly transition its leadership.”
Ruiz joined AMD as president and chief operating officer in January of 2000, and was appointed CEO in April 2002. Sanders is the founder and chairman of AMD, and served as Chairman and Chief Executive Officer since its founding in 1969 until April 25, 2002 when he retired as Chief Executive Officer.
About AMD
AMD (NYSE:AMD) designs and produces microprocessors, Flash memory devices and system-on-chip solutions for the computer, communications and consumer electronics industries. AMD is dedicated to helping its customers deliver standards-based, customer-focused solutions for technology users, ranging from enterprises to government agencies and individual consumers. Founded in 1969, AMD is a Standard & Poor's 500 company with global operations and manufacturing facilities in the United States, Europe, Japan and Asia.
AMD and the AMD Arrow logo are trademarks of Advanced Micro Devices, Inc. Other product and company names used in this publication are for identification purposes only and may be trademarks of their respective companies. |
|
|
|
|
