AMD Names John Caldwell Chairman
May 12 2016 - 6:10PM
Dow Jones News
Advanced Micro Devices Inc. said Bruce Claflin will step down as
chairman and named board member John Caldwell to replace him.
Mr. Claflin, a former chief executive of 3Com became chairman of
the semiconductor company in 2009 and will remain on the board, the
company said.
Mr. Caldwell, a board member since 2006, retired as chief
executive of electronics-manufacturing services company SMTC Corp.
in 2011.
Sunnyvale, Calif.-based AMD has tried to diversify, developing
custom chips for buyers such as Microsoft Corp. and Sony Corp. for
their gaming systems. But PC chips remain AMD's largest business,
and its revenue there has suffered as PC growth has ebbed and Intel
Corp. has expanded its market share.
AMD has posted a string of quarterly losses. Its shares surged
after the company announced last month that first-quarter sales
were above analyst estimates. On the same day, AMD also said it
reached a deal for a China joint venture for its x86 chip
technology.
In after-hours trading Thursday, the stock was up 1 cent to
$3.60.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 12, 2016 17:55 ET (21:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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