AMD chief financial officer resigns after 3 years
AMD says Finance Chief Seifert has resigned after 3 years; Kumar to take over as interim CFO
SUNNYVALE, Calif. (AP) -- Advanced Micro Devices Inc. said Monday that its chief financial officer, Thomas Seifert, is leaving the company.
Seifert, who also holds the title of senior vice president, joined the company in 2009. He served as interim CEO for eight months last year.
The company said he is resigning to pursue other opportunities.
AMD said that Devider Kumar, senior vice president and corporate controller, will serve as interim chief financial officer while it searches for a replacement. Kumar has been controller since 2001.
The departure comes a little over a year after AMD, the world's second-biggest maker of microprocessors for PCs, hired Rory Read as chief executive. Read, who came to AMD from Lenovo, took the helm after the company ousted his predecessor, Dirk Meyer, as AMD struggled to keep its edge in the mobile device market.
AMD said Monday that Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures. Seifert will remain with the company until Sept. 28 to help with the transition.
Shares of AMD, based in Sunnyvale, Calif., fell 31 cents, or 7.7 percent, to $3.70 in after-hours trading following the news. The stock gained 11 cents in heavy trading during the regular session, to close at $4.01.