AMD promotes exec, combines units, seeks new markets for chips
SAN FRANCISCO (Reuters) - Chipmaker Advanced Micro Devices promoted senior executive Lisa Su to chief operating officer and announced an internal reorganization, aiming to expand into new markets to offset slowing demand for personal computers.
The Sunnyvale, California company said in a news release on Thursday that it was wrapping sales, operations and global business units, which handled product strategy, into a single, "market-focused" organization led by Su.
Su was hired from chipmaker Freescale in 2012 to run AMD's global business units as a senior vice president. She is widely seen as one of AMD's most valuable executives as the company looks to sell chips in new markets such as low-power servers, digital signs and medical devices. The company has not had a COO since 2011.
AMD also consolidated several business units into two under Su. One unit is responsible for PC and graphics chips, while the second includes servers, embedded and semi-custom chips.
AMD said it is not changing its second-quarter reporting but that it may adjust future quarterly reports based on the new structure.
(Reporting by Noel Randewich; Editing by David Gregorio)