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AMD Hires Lenovo's Read As President/CEO

8/26/2011 11:00:54 AM Eastern

Sunnyvale, Calif.
- AMD announced that its board of directors has appointed Rory P. Read
president and CEO, effective Aug. 25.

Read, who was most
recently president and COO of Lenovo Group, was also appointed to the board of
directors.  

Prior to Lenovo,
Read reportedly spent 23 years at IBM, in a variety of management positions.

 In a statement, Read said, "I'm very pleased
to be joining AMD at this important time in its history. AMD is a true
innovator and is uniquely positioned to lead the industry forward, delivering
the next big thing both within the PC ecosystem and beyond."

Thomas Seifert,
who has served as interim CEO since January, will return as senior VP and chief
financial officer.