AMD appoints ex-Lenovo COO Read as boss

Eight months after Dirk Meyer's departure, chip maker names Rory Read as CEO and president

Chip maker AMD has appointed former Lenovo exec Rory Read (pictured) as its president and chief executive, following Dirk Meyer's resignation in January.

Read will take over from Thomas Seifert, who agreed to serve as the firm's interim chief executive until a permanent replacement for Meyer was found.

Seifert will now return to his previous role as the company's senior vice president and chief financial officer.

Before joining AMD, Read held the position of chief operating officer at Lenovo where he was responsible for driving the PC maker's growth strategy. Prior to that, he spent 23 years at IBM.

Bruce Clafin, chairman of AMD's board of directors, said Read's success at Lenovo made him the ideal choice to lead the company.

"He is ideally suited to accelerate AMD's evolution into the world's leading semiconductor design company," he said. "As president and chief operating officer at Lenovo, he helped take the company into dynamic new markets while growing share and expanding profitability."

As well as bagging the top job at AMD, Read will join the firm's board of directors.

"AMD is a true innovator and positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," said Read.

"It has strong momentum and the opportunity to continue profitably, gaining share based on its products, solid financial foundation and passionate employees," he added.