AMD’s CTO, Phil Hester, Resigns
Advanced Micro Devices announced that Phil Hester, Chief Technology Officer and senior VP, has resigned in order to pursue other opportunities.
For AMD, Phil Hesteris the third senior executive to depart in less than a year. A company spokesman told that the leaving is not related to the difficulties AMD is experiencing.
According to AMD the sales for the last financial quarter would be $1.5 billion, below $1.6 billion predicted by the analysts. AMD already experienced five consecutive quarterly losses. The shares fell 26 cents, to close at $6.01 in New York Stock Exchange composite trading. AMD announced it will reduce its workforce by 10%, that mean about 1,600 employees.
AMD stated that the it will not replace Hester, but instead it will spread Hester’s responsibilities among the others five CTOs of AMD’s business units.
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