Chipmaker Advanced Micro Devices has completed its leadership transition, naming CEO Hector Ruiz as chairman of the board.
Ruiz succeeds AMD founder Walter J. 'Jerry' Sanders, who will remain a member of AMD's board and receive the title of chairman emeritus. The company announced the move after its annual shareholders meeting late last month.
Ruiz joined AMD as president and COO in 2000, after a 22-year career as an executive at Motorola. AMD appointed Ruiz CEO in 2002, while Sanders - who began the company three decades earlier - stayed on as chairman.
The board was 'pleased with Hector [Ruiz]'s performance and confident in the future of AMD,' Robert Palmer, AMD's lead independent director, said in a statement.
The chip maker recently reported first-quarter earnings that handily outpaced expectations by Wall Street, amid signs of broad adoption of its 64-bit Opteron processor platform.
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