Advanced Micro Devices, Inc. (AMD) (NYSE: AMD) is an American multinational semiconductor company based in Sunnyvale, California, that develops computer processors and related technologies for commercial and consumer markets. Its main products include microprocessors, motherboard chipsets, embedded processors and graphics processors for servers, workstations and personal computers, and processor technologies for handheld devices, digital television, automobiles, game consoles, and other embedded systems applications.
AMD is the second-largest global supplier of microprocessors based on the x86 architecture and also one of the largest supplier of graphics processing units. It also owns 8.6% of Spansion, a supplier of non-volatile flash memory.[2] In 2009, AMD ranked eighth among semiconductor manufacturers in terms of revenue.[3]
Advanced Micro Devices was founded on May 1, 1969, by a group of former executives from Fairchild Semiconductor, including Jerry Sanders III, Ed Turney, John Carey, Sven Simonsen, Jack Gifford and three members from Gifford's team, Frank Botte, Jim Giles, and Larry Stenger. The company began as a producer of logic chips, then entered the RAM chip business in 1975. That same year, it introduced a reverse-engineered clone of the Intel 8080 microprocessor. During this period, AMD also designed and produced a series of bit-slice processor elements (Am2900, Am29116, Am293xx) which were used in various minicomputer designs.
During this time, AMD attempted to embrace the perceived shift towards RISC with their own AMD 29K processor, and they attempted to diversify into graphics and audio devices as well as EPROM memory. It had some success in the mid-1980s with the AMD7910 and AMD7911 "World Chip" FSK modem, one of the first multistandard devices that covered both Bell and CCITT tones at up to 1200 baud half duplex or 300/300 full duplex. The AMD 29K survived as an embedded processor and AMD spinoff Spansion continues to make industry leading flash memory. AMD decided to switch gears and concentrate solely on Intel-compatible microprocessors and flash memory, placing them in direct competition with Intel for x86 compatible processors and their flash memory secondary markets.
AMD announced a merger with ATI Technologies on July 24, 2006. AMD paid $4.3 billion in cash and 58 million shares of its stock for a total of US$5.4 billion. The merger completed on October 25, 2006[4] and ATI is now part of AMD.
It was reported in December 2006 that AMD, along with its main rival in the graphics industry Nvidia, received subpoenas from the Justice Department regarding possible antitrust violations in the graphics card industry, including the act of fixing prices.[5]
In October 2008, AMD announced plans to spin off manufacturing operations in the form of a multibillion-dollar joint venture with Advanced Technology Investment Co., an investment company formed by the government of Abu Dhabi. The new venture is called GlobalFoundries Inc.. This will allow AMD to focus solely on chip design.[6]
While late 2010 saw plenty of C-level drama at Hewlett-Packard, 2011 is starting with high-level departures at Microsoft and Advanced Micro Devices. The latest twist is the sudden resignation of 49-year-old AMD President and CEO Dirk Meyer. Judging by board of directors remarks, Meyer's resignation was forced.
"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives, including the launch of GlobalFoundries, the successful settlement of our litigation with Intel Relevant Products/Services, and delivering Fusion APUs to the market," said Bruce Claflin, chairman of AMD's board.
"However, the board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership, and generate superior financial returns," Claflin added. "We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives."
A Hard Hunt?
The board immediately named Senior Vice President and CFO Thomas Seifert, 47, as interim CEO while a search committee looks for a permanent replacement. The committee is led by Claflin, who has been named executive chairman of the board as he assumes additional oversight responsibilities during the transition.
"AMD is going after virtualization Relevant Products/Services, cloud Relevant Products/Services Relevant Products/Services and gaming, but they don't have anybody on the board with that kind of experience," said Doral Vell, principal at executive search firm Vell Executive Search. "The board is full of heavyweight P&L people from PeopleSoft, IBM, 3Com and other companies."
Vell said Myer is a longtime AMD veteran, an engineering type who the board clearly felt didn't have the right strategy for the company. Vell said the question is how long it will take the board to find a candidate it feels confident enough to hire. "It won't be hard to find candidates willing to go to AMD, but the question is, will the board accept them?" Vell commented.
AMD Q4 Results
Seifert joined AMD in 2009 and has more than 20 years of general management, global operations, and financial management expertise. Immediately prior to joining AMD, Seifert served as COO and CFO of Qimonda AG, where he led the formation and subsequent IPO for the company. At Infineon AG, Seifert served as senior vice president and general manager of its wireless business group.
"AMD enters 2011 with considerable product and financial momentum. Our road map for the year, including our 'Llano' APU and 32nm 'Bulldozer'-based processors remain on track," Seifert said. "I believe we have significant opportunities to cement our leadership positions in several key market segments, based on the strength of our upcoming products."
AMD is also announcing certain preliminary results for the fourth quarter. Revenue increased two percent sequentially to approximately $1.65 billion, and the gross margin was about 45 percent. In addition, the company reaffirmed its 2011 annual financial guidance as disclosed at its financial analyst day last November.
Accenture has completed its acquisition of CAS Computer Anwendungs - und Systemberatung AG (CAS), based in Kaiserslautern, Germany, for an undisclosed amount.
CAS, which was set up in 1986, is an international provider of customer relationship management (CRM) and mobility software focused on retail execution and trade promotions for the consumer products industry.
As a result of the acquisition, about 234 CAS employees based in Germany, the United Kingdom, United States and Australia will join Accenture. CAS will become a part of Accenture’s dedicated software business.
Accenture said it plans to increase the functionality of the software into areas such as digital merchandising, distributors’ management and analytics, and will focus on expanding in Latin America, China and India.
“By acquiring CAS and its leading software solutions, we’ll help our clients serve customers and consumers better by drawing on our leading technology, industry expertise and wide-ranging analytics capabilities,” said Fabio Vacirca, who leads Accenture’s consumer goods and services industry practice in Europe and Latin America.
“We are building an even stronger capability to help our clients win at the ‘store shelf’, strengthen the consumer shopping experience and positively impact sales.”
AMD is the second-largest global supplier of microprocessors based on the x86 architecture and also one of the largest supplier of graphics processing units. It also owns 8.6% of Spansion, a supplier of non-volatile flash memory.[2] In 2009, AMD ranked eighth among semiconductor manufacturers in terms of revenue.[3]
Advanced Micro Devices was founded on May 1, 1969, by a group of former executives from Fairchild Semiconductor, including Jerry Sanders III, Ed Turney, John Carey, Sven Simonsen, Jack Gifford and three members from Gifford's team, Frank Botte, Jim Giles, and Larry Stenger. The company began as a producer of logic chips, then entered the RAM chip business in 1975. That same year, it introduced a reverse-engineered clone of the Intel 8080 microprocessor. During this period, AMD also designed and produced a series of bit-slice processor elements (Am2900, Am29116, Am293xx) which were used in various minicomputer designs.
During this time, AMD attempted to embrace the perceived shift towards RISC with their own AMD 29K processor, and they attempted to diversify into graphics and audio devices as well as EPROM memory. It had some success in the mid-1980s with the AMD7910 and AMD7911 "World Chip" FSK modem, one of the first multistandard devices that covered both Bell and CCITT tones at up to 1200 baud half duplex or 300/300 full duplex. The AMD 29K survived as an embedded processor and AMD spinoff Spansion continues to make industry leading flash memory. AMD decided to switch gears and concentrate solely on Intel-compatible microprocessors and flash memory, placing them in direct competition with Intel for x86 compatible processors and their flash memory secondary markets.
AMD announced a merger with ATI Technologies on July 24, 2006. AMD paid $4.3 billion in cash and 58 million shares of its stock for a total of US$5.4 billion. The merger completed on October 25, 2006[4] and ATI is now part of AMD.
It was reported in December 2006 that AMD, along with its main rival in the graphics industry Nvidia, received subpoenas from the Justice Department regarding possible antitrust violations in the graphics card industry, including the act of fixing prices.[5]
In October 2008, AMD announced plans to spin off manufacturing operations in the form of a multibillion-dollar joint venture with Advanced Technology Investment Co., an investment company formed by the government of Abu Dhabi. The new venture is called GlobalFoundries Inc.. This will allow AMD to focus solely on chip design.[6]
While late 2010 saw plenty of C-level drama at Hewlett-Packard, 2011 is starting with high-level departures at Microsoft and Advanced Micro Devices. The latest twist is the sudden resignation of 49-year-old AMD President and CEO Dirk Meyer. Judging by board of directors remarks, Meyer's resignation was forced.
"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives, including the launch of GlobalFoundries, the successful settlement of our litigation with Intel Relevant Products/Services, and delivering Fusion APUs to the market," said Bruce Claflin, chairman of AMD's board.
"However, the board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership, and generate superior financial returns," Claflin added. "We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives."
A Hard Hunt?
The board immediately named Senior Vice President and CFO Thomas Seifert, 47, as interim CEO while a search committee looks for a permanent replacement. The committee is led by Claflin, who has been named executive chairman of the board as he assumes additional oversight responsibilities during the transition.
"AMD is going after virtualization Relevant Products/Services, cloud Relevant Products/Services Relevant Products/Services and gaming, but they don't have anybody on the board with that kind of experience," said Doral Vell, principal at executive search firm Vell Executive Search. "The board is full of heavyweight P&L people from PeopleSoft, IBM, 3Com and other companies."
Vell said Myer is a longtime AMD veteran, an engineering type who the board clearly felt didn't have the right strategy for the company. Vell said the question is how long it will take the board to find a candidate it feels confident enough to hire. "It won't be hard to find candidates willing to go to AMD, but the question is, will the board accept them?" Vell commented.
AMD Q4 Results
Seifert joined AMD in 2009 and has more than 20 years of general management, global operations, and financial management expertise. Immediately prior to joining AMD, Seifert served as COO and CFO of Qimonda AG, where he led the formation and subsequent IPO for the company. At Infineon AG, Seifert served as senior vice president and general manager of its wireless business group.
"AMD enters 2011 with considerable product and financial momentum. Our road map for the year, including our 'Llano' APU and 32nm 'Bulldozer'-based processors remain on track," Seifert said. "I believe we have significant opportunities to cement our leadership positions in several key market segments, based on the strength of our upcoming products."
AMD is also announcing certain preliminary results for the fourth quarter. Revenue increased two percent sequentially to approximately $1.65 billion, and the gross margin was about 45 percent. In addition, the company reaffirmed its 2011 annual financial guidance as disclosed at its financial analyst day last November.
Accenture has completed its acquisition of CAS Computer Anwendungs - und Systemberatung AG (CAS), based in Kaiserslautern, Germany, for an undisclosed amount.
CAS, which was set up in 1986, is an international provider of customer relationship management (CRM) and mobility software focused on retail execution and trade promotions for the consumer products industry.
As a result of the acquisition, about 234 CAS employees based in Germany, the United Kingdom, United States and Australia will join Accenture. CAS will become a part of Accenture’s dedicated software business.
Accenture said it plans to increase the functionality of the software into areas such as digital merchandising, distributors’ management and analytics, and will focus on expanding in Latin America, China and India.
“By acquiring CAS and its leading software solutions, we’ll help our clients serve customers and consumers better by drawing on our leading technology, industry expertise and wide-ranging analytics capabilities,” said Fabio Vacirca, who leads Accenture’s consumer goods and services industry practice in Europe and Latin America.
“We are building an even stronger capability to help our clients win at the ‘store shelf’, strengthen the consumer shopping experience and positively impact sales.”