CFO Leaves AMD

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After markets closed today, Advanced Micro Devices Inc. (NYSE: AMD) announced that senior vice-president and CFO Thomas Seifert has resigned “to pursue other opportunities.” Seifert will remain at AMD until the end of the month.

According to the announcement, “Seifert’s departure is not based on any disagreement over the company’s accounting principles or practices, or financial statement disclosures.”

Devinder Kumar, the company’s senior vice-president and corporate controller, has been appointed as interim CFO. Kumar has been employed at AMD since 2001.

Seifert had served as interim CEO at AMD in 2011 after former CEO Dirk Meyer was forced out. Seifert chose not to be a candidate for the permanent CEO position, so it’s unlikely that he’s leaving in a huff. Still, he’s resigned his position, not retired. Seifert has been with AMD for 28 years.

AMD’s shares were up 2.8% today, but have fallen 2.5% in after-hours trading, to $3.91. The stock’s 52-week range is $3.43 to $8.35.

Paul Ausick

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