AMD Appoints COO Lisa Su As CEO

(RTTNews) - Chipmaker Advanced Micro Devices, Inc. (AMD) said Wednesday that its board of directors has appointed Dr. Lisa Su as president and chief executive officer and member of the board of directors, effective immediately.

Dr. Su, 44, succeeds Rory Read, 52, who has stepped down as president and chief executive officer, and member of the board of directors, as part of a transition plan.

Read will support the transition in an advisory role, remaining with the company through the end of 2014.

"Leadership succession planning has been a joint effort between Rory and the board and we felt that Lisa's expertise and proven leadership in the global semiconductor industry make this an ideal time for her to lead the company," said Bruce Claflin, chairman of AMD's board of directors.

Dr. Su joined AMD in 2012 and was most recently the company's chief operating officer. Previously, she was senior vice president and general manager, Global Business Units, responsible for the company's product strategy, product definition and business plans. Prior to joining AMD, Dr. Su served as senior vice president and general manager, Networking and Multimedia at Freescale Semiconductor, Inc. Prior to her tenure at Freescale, Dr. Su spent 13 years with IBM.