Well, we didn't see this one coming. AMD has just announced that (now former) CEO Dirk Meyer has resigned from the company. There's no official reason behind Meyer's departure, except that he reached a "mutual agreement" with the company's board. A CEO Search Committee has been formed to find a replacement for Meyer and senior vice president Thomas Seifert has agreed to steer the ship until a permanent CEO is appointed.

"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of GlobalFoundries, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market," said Bruce Claflin, Chairman of AMD's Board of Directors and head of the CEO Search Committee. Despite Meyer's contributions to the company, the board felt it was time for a change.

"However, the Board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives." It's unclear whether Meyer has another opportunity lined up or if AMD has any replacements in mind.