AMD’s Chief Executive Officer Hector Ruiz Steps Down

Advanced Micro Devices, the world’s second largest maker of x86 central processing units, on Thursday announced that its chief executive officer Hector Ruiz has stepped down from his top executive position and that the board of directors elected president and chief operating officer Derrick Meyer to become the next CEO of AMD. Mr. Ruiz will continue to serve as the executive chairman of the board.

As executive chairman, Mr. Ruiz will ensure a smooth executive leadership transition, focus on driving the company’s asset smart strategy to completion, and assist with high-level government and strategic partner relations.