AMD names Lisa Su as president and chief executive officer

AMD today named Lisa Su as president and chief executive officer.

Su, 44, succeeds Rory Read, 52, who has stepped down as president and chief executive officer, as part of a transition plan.

Read will support the transition in an advisory role, remaining with the company through the end of 2014, said AMD in a statement.

He is leaving the PC processor company at a time when AMD returned to non-GAAP profitability and 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.

AMD CEO Lisa Su

Su joined AMD in 2012 and was most recently chief operating officer responsible for integrating AMD’s business units, sales, operations and infrastructure enablement teams into a single market-facing organization responsible for all aspects of product strategy, product execution, sales and operations.

Previously, she was senior vice president and general manager, Global Business Units, responsible for the company’s product strategy, product definition and business plans.

Prior to joining AMD, Su served as senior vice president and general manager, Networking and Multimedia at Freescale Semiconductor. She joined Freescale as chief technology officer in 2007.

Prior to Freescale, Su spent 13 years with IBM. Prior to IBM, she was a member of the technical staff at Texas Instruments in the Semiconductor Process and Device Center.

Aryan B
editor@gizmolead.com

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