AMD spins off manufacturing operations; names new chairman

03 March 2009

Chipmaker Advanced Micro Devices (AMD) has appointed a new chairman to replace former CEO and chairman Hector Ruiz, as it closes the deal to spin off its manufacturing operations. Ruiz was named CEO in April 2002, when founder of the company Jerry Sanders stepped down. He was appointed as chairman of the board in April 2004. (See: AMD reduces stake in The Foundry Co)

AMD yesterday announced that Bruce Claflin has been appointed chairman of its board of directors. Claflin replaces Ruiz, who retired from AMD's board to become the chairman of the board of The Foundry Company, the chip manufacturing concern that was spun off officially yesterday. AMD, a distant runner-up to Intel Corp in the microprocessor business, won approval from shareholders last month for the spin-off.

Claflin has 33 years of experience in senior positions with IBM, Digital Equipment and most recently as chief executive officer and member of the board of directors of 3Com Corp., a provider of voice and data networking products and services, from where he retired in early 2006, about 1.5 years before 3Com went private.

He has run major personal computer businesses and has extensive international experience, including the founding and management of international joint ventures, according to AMD.

The AMD board also appointed Waleed Al Mokarrab to the board. Al Mokarrab is chief operating officer of Mubadala Development Company, the Abu Dhabi-based firm that is a major investor in The Foundry Company. Dirk Meyer remains president and CEO of AMD.

''Bruce Claflin brings a wealth of business experience that applies directly to the challenges and opportunities relevant to our company," said Meyer. "We are also honoured to welcome Waleed Al Mokarrab to the Board. His experience in business development across a broad range of industries will be an invaluable asset to AMD,'' Meyer added.

AMD said ysterday that it has closed the deal to spin off its manufacturing operations to Advanced Technology Investment Company (ATIC), s technology investment company wholly owned by the Emirate of Abu Dhabi that was formed in 2008, and Mubadala.