Boston, MA 06/20/2014 (wallstreetpr) – Advanced Micro Devices, Inc. (NYSE:AMD) on June 19, 2014 announced that it was taking a new initiative in the multi-year strategic transformation of delivering profitability as well as consistent growth.
The New Structure of the Company
This initiative will be taken by combination of previously separated business units of the company, international operations as well as sales organisations so as to create one single, market-oriented organisation that will focus on the aspects of product execution, product strategy, operations as well as sales.
This singular structure of Advanced Micro Devices, Inc. (NYSE:AMD) will be implemented from July 1, 2014 onwards. It will be led by Dr. Lisa Su who will act as the Chief Operating Officer (COO) of AMD and will report to the President and Chief Executive Officer, Rory Read.
Consolidation of Business into Two Expanded Groups
AMD also announced that as a part of its re-alignment, it will merge all its business units into two different expanded business groups, which will function for delivering the unmatched customer value in not just the conventional PC markets but also the new high-growth markets.
The first group will be The Computing and Graphics Business Group, which will include Advanced Micro Devices, Inc. (NYSE:AMD)’s clients, consumer graphics & professional graphics businesses and the related sales and product engineering functions. The Chief Sales Officer of AMD, John Byrne will be the Senior Vice President and General Manager of this group.
The second group will be The Enterprise, Embedded and Semi-Custom Business Group and this will include AMD’s server, semi-custom, embedded and dense server businesses along with their related sales and product engineering functions. The acting leader of this group will be Dr. Lisa Su.
Statement from the President and Chief Executive Officer, Rory Read
The President and Chief Executive Officer, Rory Read said that the company has been executing the three-step strategy to reset the business during the past two years. Finally, Read said, the transformation has been done. The announcement, according to Read, reflected the next step in the long-term strategic plan of res-structuring the company and its culture for driving consistent growth and profitability.
