An Open Letter To Frank Clegg, AMD (AMD) Board Member
January 9, 2008 by Douglas A. McIntyreMr. Clegg,
As a member of the AMD (AMD) board, you know how deeply disappointed the market is with the performance of the company’s CEO Hector Ruiz. AMD shares hit another 52-week low today at $5.77. Wall St. has lost faith in the company’s ability to release products on time and improve gross margins.
Wachovia Capital Markets recently wrote "design problems have prevented AMD from making its quad-core chips broadly available, leaving Intel (INTC) with "essentially no competition" in the quad-core market."
With shares at a five year low, AMD needs a new leader before investors will believe that the company can be turned around.
Douglas A. McIntyre
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