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January 04, 2013

Advanced Micro Devices Names Kumar its CFO

Devinder Kumar, the interim CFO of Advanced Micro Devices (News - Alert), has recently been named the company's chief financial officer. He will replace the company's previous CFO Thomas Siefert, who resigned in September, and will lead ADM's global finance organization under the direction of Rory Read, the company's president and CEO.

Kumar has served as the AMD's (News - Alert) corporate controller for the past 11 years, senior vice president for the past six years and assistant treasurer and treasurer from 2007 to 2010. Before he signed on as a financial analyst for AMD in 1984, he was a financial controller for AMD Penang and financial director for the company's Manufacturing Services Group throughout Singapore, Thailand, China and Malaysia for 10 years.

"Devinder has been with AMD for more than 28 years and is a talented finance veteran with deep industry knowledge," Read said in a statement. "As we accelerate our strategic growth initiatives, Devinder will play an integral role driving the new business model in the near term and strengthening AMD's long-term financial foundation."

Although Siefert was only with the company for three years, his devoted efforts will not be forgotten.

"We thank Thomas for his many contributions to AMD and for serving as interim CEO in 2011," Read said in statement. "Thomas' personal commitment to the highest standards of accountability and financial integrity has helped define how AMD does business today."

Reed is confident that Devinder will succeed in his new role. He explained, "Devinder is an experienced financial executive whose financial expertise and semiconductor experience developed during his 28 year tenure at AMD is an asset to the company.”

Edited by Amanda Ciccatelli

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