Three senior executives are no longer with AMDBy Shawn Knight
AMD will have some pretty large shoes to fill in the near future as three senior executives are no longer with the company.
John Byrne, General Manager of AMD's Computing and Graphics Business Group, is leaving to pursue other interests. He will stick around until the end of March, however, to assist with the transition according to an 8K filing.
Chief Marketing Officer Colette LaForce and Chief Strategy Officer Raj Naik have also decided to exit.
AMD spokesperson Drew Prairie said the changes are part of implementing an optimal organization design and leadership team to further sharpen the company's execution and position them for growth. Or in other words, it's all part of a restructuring effort.
The moves come roughly three months after former AMD CEO Rory Read stepped down from the position. He was replaced by Chief Operating Officer Dr. Lisa Su who wasted little time trying to turn things around.
Just over a week after landing the promotion, Su announced plans to cut seven percent of AMD's global workforce in the wake of poor third quarter results. Following today's vacancies, Su will assume Byrne's responsibilities as the company conducts a search for a permanent replacement.
It's also worth mentioning that in the 8K filing, AMD awarded restricted stock units to Chief Financial Officer Devinder Kumar and Chief Technology Officer Mark Papermaster as part of an inventive plan.