Advanced Micro Devices (AMD) has appointed Hector Ruiz, former head of Motorola's semiconductor business, as its president and chief operating officer - and heir apparent.
The chip maker has been looking for a replacement for Atiq Raza since he resigned abruptly last July, amid the biggest financial loss in AMD's history, to pursue other interests.
But Ruiz has been appointed a week after AMD returned to profitability. Fresh from three years of restructuring Motorola's $7.3 billion semiconductor business, he is expected to succeed Jerry Sanders as the company's chief executive when he steps down at the end of 2001.
During a conference call on Tuesday, Ruiz stressed that his main aim was to bring consistency to AMD's business. The company has been plagued for years by its failure to deliver the volume of chips necessary to keep PC makers happy.
But Ruiz explained that the reason he had jumped after more than 20 years with Motorola was that AMD was giving him the chance to eventually run the company.
"AMD has all the attributes for success. It's in a market that cries out for competition," he said.
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