Menu
AMD looks to new CFO to stall financial struggles

AMD looks to new CFO to stall financial struggles

Thomas Seifert, who had been with Qimonda, is tapped for the job

Advanced Micro Devices on Thursday appointed a former Qimonda executive as its new chief financial officer to pull the company out of its ailing financial state.

Thomas Seifert, the new CFO, will fill the role previously occupied by Robert Rivet, who last year was reassigned to the post of chief operations and administrative officer. Seifert will report to AMD CEO Dirk Meyer.

AMD has struggled financially with years of consecutive losses, but has shown signs of returning to profitability. Last month, the company said it would reinstate salaries for roughly 11,000 employees in December. Financial analysts at the time noted that AMD could end the fiscal year on a profitable note as demand for its products increases. The company has a stable of products coming soon, including mobile processors, chipsets and graphics cards.

Seifert previously worked at memory company Qimonda, where he was the chief operating officer and chief financial officer. Qimonda filed for bankruptcy protection earlier this year after being hit by the global recession. Qimonda was originally spun off from Infineon Technologies in 2006 and was a top competitor in the DRAM market until the recession and a chip glut affected its operations.

"[Seifert] is a talented industry veteran with a wealth of knowledge and experience managing the operations and finances of companies in the most difficult and competitive sectors of the semiconductor industry," Meyer said in a statement. His experience should help "strengthen AMD's financial foundation," he said.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AMD

Featured

Slideshows

Reseller News launches alumnae breakfast for Women in ICT Awards

Reseller News launches alumnae breakfast for Women in ICT Awards

Reseller News hosted the first alumnae breakfast for the Women in ICT Awards in New Zealand, designed to showcase the leading female leaders in the industry. Held at The Cordis in Auckland, attendees came together to hear inspiring keynotes and panel discussions, alongside high-level networking among peers.

Reseller News launches alumnae breakfast for Women in ICT Awards
Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News honoured the industry’s finest on a standout evening for the New Zealand channel, recognising the achievements of established partners, emerging players and innovative start-ups, in front of over 460 technology leaders in Auckland.

Reseller News Innovation Awards 2018: meet the top performing partners
Show Comments