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AMD CEO says no plans to step down in 08-CNBC

Tue Dec 11, 2007 2:04pm EST

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SAN FRANCISCO, Dec 11 (Reuters) - Advanced Micro Devices Inc (AMD.N) Chief Executive Hector Ruiz has no plans to step down as head of the microprocessor maker next year, he said in an interview with CNBC Europe.

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Ruiz said in the CNBC interview, to be broadcast later this week, that President and Chief Operating Officer Dirk Meyer is being groomed to succeed him as CEO.

The interview will be broadcast on Thursday, Dec. 13 at 2300 Central European Time (2200 GMT), the same day that AMD holds its financial analyst conference in New York, the network said.

An e-mail including excerpts of the interview was sent to Reuters on Tuesday and was confirmed as authentic by CNBC.

AMD has in the past two years struggled with market share losses to its far larger rival, Intel Corp (INTC.O), in the market for microprocessors.

It is banking much of its turnaround on its Barcelona processor, which was launched in September. (Reporting by Duncan Martell; Editing by Jeffrey Benkoe)

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