UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
June 9, 2014
Date of Report (Date of earliest event reported)
ADVANCED
MICRO DEVICES, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-07882 |
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94-1692300 |
(State of Incorporation) |
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(Commission File Number) |
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(IRS Employer
Identification Number) |
One AMD Place
P.O. Box 3453
Sunnyvale,
California 94088-3453
(Address of principal executive offices) (Zip Code)
(408) 749-4000
(Registrants telephone number, including area code)
N/A
(Former Name or
Former Address, if Changed Since Last Report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On June 9, 2014, the Board of Directors of Advanced Micro Devices, Inc.
(the Company) approved the appointment of Dr. Lisa T. Su as the Companys Senior Vice President and Chief Operating Officer, effective July 1, 2014. Dr. Su joined the Company in 2012 and currently serves as
Senior Vice President and General Manager, Global Business Units.
Also, on the same day, the Board of Directors of the Company approved
the appointment of Mr. John Byrne, as the Companys Senior Vice President and General Manager, Computing and Graphics Business Group, effective July 1, 2014. Mr. Byrne joined the Company in 2007 and currently serves as Senior
Vice President and Chief Sales Officer.
Biographical information for Dr. Su and Mr. Byrne is included in the Companys
Proxy Statement for its 2014 Annual Meeting of Stockholders, which was filed with the U.S. Securities and Exchange Commission on March 25, 2014, and is incorporated by reference herein. A copy of the press release announcing Dr. Sus
and Mr. Byrnes appointments is attached as Exhibit 99.1 hereto.
On June 9, 2014, the Compensation Committee of the Board
of Directors of the Company approved base salary increases for Mr. Devinder Kumar, the Companys Senior Vice President and Chief Financial Officer, Mr. John Byrne, and Dr. Lisa T. Su. Messrs. Kumar and Byrne and Dr. Su
are each a named executive officer. These base salary increases will be effective July 1, 2014. The current base salaries of Messrs. Kumar and Byrne and Dr. Su, and the base salaries to be received by Messrs. Kumar and Byrne and
Dr. Su beginning July 1, 2014, are set forth opposite their names in the table below.
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Name |
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Current Base Salary |
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Base Salary as of July 1, 2014 |
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Devinder Kumar |
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$ |
500,000 |
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$ |
530,000 |
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John Byrne |
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$ |
455,000 |
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$ |
550,000 |
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Lisa T. Su |
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$ |
575,000 |
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$ |
650,000 |
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Item 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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Description |
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99.1 |
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Press release dated June 12, 2014 regarding the appointment of Dr. Su as the Companys Senior Vice President and Chief Operating Officer and Mr. Byrne as the Companys Senior Vice President and General Manager,
Computing and Graphics Business Group. |
SIGNATURES
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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Date: June 12, 2014 |
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ADVANCED MICRO DEVICES, INC. |
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By: |
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/s/ Harry A. Wolin |
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Name: |
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Harry A. Wolin |
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Title: |
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Senior Vice President, General Counsel and Secretary |
EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1 |
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Press release dated June 12, 2014 regarding the appointment of Dr. Su as the Companys Senior Vice President and Chief Operating Officer and Mr. Byrne as the Companys Senior Vice President and General Manager, Computing
and Graphics Business Group. |
Exhibit 99.1
NEWS RELEASE
Media Contact
Drew Prairie
512-602-4425
drew.prairie@amd.com
Investor Contact
Ruth Cotter
408-749-3887
ruth.cotter@amd.com
AMD
ANNOUNCES LATEST STEP IN MULTI-YEAR STRATEGIC TRANSFORMATION
Dr. Lisa Su Named Chief Operating Officer; Company to Create Two
Business Groups Focused on Further Strengthening Traditional Businesses and Driving Growth in Adjacent Markets; Chief Sales Officer John Byrne to Lead New Computing and Graphics Business Group
SUNNYVALE CA June 12, 2014 AMD (NYSE: AMD) today announced the latest step in the companys multi-year
strategic transformation to deliver consistent growth and profitability by combining the companys previously separate business units, global operations and sales organizations to create a singular, market-focused organization responsible for
all aspects of product strategy, product execution, sales and operations. The new structure will be implemented on July 1 and will be led by Dr. Lisa Su (44) in her new role as AMDs Chief Operating Officer (COO),
reporting to AMD President and Chief Executive Officer Rory Read (52).
As a part of the re-alignment, AMD also announced it will
consolidate its business units into two expanded business groups designed to deliver unmatched customer value in both traditional PC markets and adjacent high-growth markets:
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The Computing and Graphics Business Group will combine AMDs client, consumer graphics and professional graphics businesses, as well as their related product engineering and sales functions. AMD Chief Sales Officer
John Byrne (43) has been appointed senior vice president and general manager responsible for leading the Computing and Graphics Business Group, reporting to Dr. Su. |
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The Enterprise, Embedded and Semi-Custom Business Group will combine AMDs server, embedded, dense server and semi-custom businesses, as well as their related product engineering and sales functions. Dr. Su
will be the acting lead. |
During the past two years, we have been successfully executing our three-step strategy to
reset, accelerate and ultimately transform AMD, said Read. Todays announcement represents the next step in our long-term strategic plan to help ensure AMDs operating structure and culture are better aligned to drive
consistent growth and profitability by leveraging our leadership IP to create differentiated products that help our customers win across a diversified set of high-growth markets.
Lisa has been a driving force in AMDs recent success, and as COO she will expand on this foundation and lead a broader
organization designed to more quickly adapt to industry shifts, streamline execution and decision making, and create even greater value for our customers. Johns years of PC industry experience and successful track record of strengthening
AMDs customer relationships make him ideally suited to take on additional responsibility and lead one of our new business groups.
Dr. Su joined AMD in 2012 as senior vice president and general manager, Global Business Units, responsible for the companys product
strategy, product definition and business plans. She joined AMD from Freescale, where she held multiple positions including chief technology officer and senior vice present and general manager, Networking and Multimedia. Prior to Freescale,
Dr. Su spent 13 years with IBM in various engineering and business leadership positions.
During Byrnes seven years at AMD he
has held several senior management roles, including responsibility for global sales teams, leading the consolidation of the companys computing and graphics processor worldwide channel sales teams and strengthening relationships with the
companys largest global customers. He has more than 25 years of experience in the technology industry, including founding two successful technology sales and marketing businesses.
About AMD
AMD (NYSE: AMD) designs and
integrates technology that powers millions of intelligent devices, including personal computers, tablets, game consoles and cloud servers that define the new era of surround computing. AMD solutions enable people everywhere to realize the full
potential of their favorite devices and applications to push the boundaries of what is possible. For more information, visit www.amd.com.
Cautionary Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and
Section 27A of the Securities Act of 1933. Forward-looking statements reflect current expectations and projections about future events, and thus involve uncertainty and risk. It is possible that future events, including the success of
AMDs strategic plans, may differ from expectations due to a variety of risks and other factors such as those described in the Risk Factors section of AMDs Annual Report on Form 10-K for the fiscal year ended December 28,
2013 and Quarterly Report on Form 10-Q for the quarter ended March 29, 2014, as filed with the Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this press release
are based on certain assumptions and analyses made in light of AMDs experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. AMD does not intend to update any particular forward-looking statements contained in this press release.
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AMD, the AMD
Arrow logo and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
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