On Thursday’s post-earnings conference call with analysts, Advanced Micro Devices Inc.’s general counsel, Harry Wolin, addressed concerns about the amount of time the No. 2 maker of computer microprocessors is taking to appoint a new CEO. Dirk Meyer, the previous CEO, was forced out in January over concerns about AMD’s growth rate and its lack of an articulated strategy for smartphones and tablets. AMD’s stock has lost 30 percent of its value since then.
Question: If the company is not able to land a credible CEO this quarter, what’s the board prepared to do?
Answer (Wolin): Well, I think I will tell you that the board is actually very pleased with the candidates that they’re seeing and believes that the search is moving in a fine direction. So I think they’re confident that we will find the right candidate, the candidate with the proper vision and track record to move us into the future, and hopefully quickly restore the shareholder value that we have lost as well as gaining some that we feel we deserve beyond that.
Question: Does that mean that you’re going to make an announcement this quarter?
Answer: I’m not setting a timeline for any announcement.