SAN FRANCISCO (01/25/2000) - Advanced Micro Devices Inc. (AMD) is appointing long-time Motorola Inc. executive Hector de J. Ruiz as the company's new president and chief operating officer, the U.S. chip maker announced today.
Ruiz, who will also become a member of the AMD board of directors, was most recently president of Motorola's semiconductor products sector, responsible for heading up the company's global chip operations, a US$7.3 billion business employing 33,000 staff, according to an AMD statement issued today.
AMD Chairman and Chief Executive Officer Jerry Sanders has effectively also been managing both roles -- company president and COO -- since the unexpected resignation of Atiq Raza in July last year. [See "AMD Loses Money, Key Executive," July 14, 1999.] Raza was only promoted to the AMD presidential spot two months previous to handing in his resignation. He had been seen by industry analysts as the heir apparent to Sanders.
Today's news follows last week's announcement of a strong fourth financial quarter for the chip maker. [See "AMD Boasts a Bumper Fourth Quarter," Jan.
For the fourth quarter of fiscal 1999, ended Dec. 26, 1999, AMD reported net income of $65 million, a substantial increase on $22.3 million for the year-ago quarter, while revenue rose 23 percent to reach $968.7 million, up from $788.8 million for the same quarter in the previous year.
AMD's results were buoyed up by the performance of its high-end Athlon processors that compete head-on with Intel Corp.'s Pentium III chips.
For fiscal 1999 as a whole, AMD recorded a loss of $88.9 million on revenue of $2.8 billion, compared with the previous year's loss of $104 million on revenue of $2.5 billion.
AMD is based in Sunnyvale, California, and can be reached at +1-408-732-2400 or on the World Wide Web at http://www.amd.com/.