Current Report Filing (8-k)
October 08 2014 - 4:52PM
Edgar (US Regulatory)
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
Date of Report: (Date of Earliest Event Reported):
October 8, 2014
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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(I.R.S. Employer
Identification Number) |
One AMD Place
P.O. Box 3453
Sunnyvale,
California 94088-3453
(Address of Principal Executive Offices)
(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. |
Departure of Directors or Certain Officers
On October 8, 2014, Advanced Micro Devices (the Company) announced that Rory P. Read had stepped down from his
positions as the Companys President and Chief Executive Officer and as a member of the Companys Board of Directors (the Board). The Board and Mr. Read are currently negotiating a Transition, Separation
Agreement and Release. Effective immediately, Mr. Read will continue his employment with the Company in a non-executive role as an advisor through December 31, 2014, when his employment with the Company will end. Mr. Read will
continue to receive the salary and benefits he currently receives during this period of time.
Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers
On October 8, 2014, the Board appointed Dr. Lisa T. Su as
the Companys President and Chief Executive Officer and as a director of the Company.
Dr. Su, 44, joined the Company in January
2012 and has served as Senior Vice President and Chief Operating Officer since July 1, 2014. From January 2012 until July 1, 2014, Dr. Su served as Senior Vice President and General Manager, Global Business Units. Before joining the
Company, Dr. Su served as Senior Vice President and General Manager, Networking and Multimedia at Freescale Semiconductor, Inc., a company that designs and manufactures embedded processors, where she was responsible for global strategy,
marketing, product management and engineering for Freescales embedded communications and applications processor businesses. Dr. Su joined Freescale in 2007 as Chief Technology Officer, where she led the companys technology
roadmap and research and development efforts. She was promoted to Senior Vice President and General Manager, Networking and Multimedia in September 2008. Before her employment with Freescale, Dr. Su spent 13 years with IBM in various
engineering and business leadership positions, including Vice President of IBMs Semiconductor Research and Development Center, responsible for the strategic direction of IBMs silicon technologies, joint development alliances and
semiconductor R&D operations. Dr. Su has served on the board of directors of Analog Devices since June 2012. Dr. Su holds a bachelors, masters and doctorate degrees in electrical engineering from the Massachusetts Institute
of Technology (MIT), has been published in more than 40 technical publications and was named a Fellow of the Institute of Electronics and Electrical Engineers (IEEE) in 2009. Dr. Su was also named in MIT Technology Reviews Top 100 Young
Innovators in 2002.
Dr. Su and the Board are currently negotiating the terms of an employment agreement. Dr. Su is currently paid an
annual base salary of $650,000. Further details of Dr. Sus compensation are set forth in the Companys proxy statement for its Annual Meeting of Stockholders, which was filed with the Securities Exchange Commission on March 25,
2014 and is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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By: |
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/s/ Harry A. Wolin |
Name: |
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Harry A. Wolin |
Title: |
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Senior Vice President, General Counsel and
Secretary |
Date: October 8, 2014
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