Processor manufacturer AMD (NYSE: AMD) pulled-off a steal Thursday, announcing it had poached Lenovo executive Rory Read to take the helm of the company as president and CEO, effective immediately.
Reid was most recently president and COO of Lenovo Group, where he was responsible for leading day-to-day global operations while overseeing the development and implementation of the Chinese computer manufacturer.
“Rory is a proven leader with an impressive record of driving profitable growth,” said Bruce Claflin, chair of AMD’s board of directors, in a statement. “He is ideally suited to accelerate AMD’s evolution into the world’s leading semiconductor design company. As president and COO of Lenovo he helped take the company into dynamic new markets while growing market share and expanding profitability. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD.”
Before joining Lenovo when it bought IBM’s PC business, Read help a number of management positions in a 23-year career with Big Blue. He’ll also be joining AMD’s board of directors.
“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,” said Read in a statement. “AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I’m excited to be joining AMD’s employees as we write the next chapter not just for the company, but for the industry and consumers around the world.”
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