San Francisco: The departure of Advanced Micro Devices' chief executive followed months of concern among some board members that he wasn't doing enough to get the chip maker into the exploding mobile market, a company source said.
PC chip maker AMD's shares slumped 9 per cent to close at $8.36 on Tuesday after the company unexpectedly said late the day before that Dirk Meyer was leaving as the result of a "mutual agreement" with the board of directors.
Much of the reason for Meyer's departure had to do with currents of discontent on the board about AMD's choice not to pursue making chips for the mobile market other than netbooks, the company source told Reuters.
In October, Meyer had told analysts that even though tablets like Apple's iPad were eating into demand for laptops, AMD would hold off on investing to develop microprocessors for that market until it grew more. AMD focuses on making chips for personal computers and servers, and competes directly against much larger Intel....more
11:41 AM, Jan 12, 2011