Advanced Micro Devices (AMD) has named Atiq Raza as president and chief operating officer, but Jerry Sanders, the chip maker?s embattled chief executive will remain in the saddle for now.
Bob Palmer, former Digital number one, will also join the firm?s board. Palmer was credited with focusing Digital on its Alpha processor technology.
Raza joined AMD when the company acquired rival Nexgen in 1996. Nexgen?s chip designs were used as the basis for the company?s K6 processor, which returned AMD to the position of chief challenger to Intel. Raza served as executive vice president, joint chief operating officer and chief technical officer at Nexgen.
But he was appointed to his new position at a board meeting on Thursday, when his predecessor Richard Previte was also elected vice chairman of the board.
Previte will also continue to act as chairman and chief executive of Vantis, AMD?s programmable logic subsidiary, which is being acquired by Lattice.
Two weeks ago, AMD reported revenues of $631.59 million, on a net loss of $128.37 million for its first quarter, returning to the red after making profits the previous quarter.
While the company has gained market share over the last year, a price war with Intel has kept the average selling prices of its chips down.
But at a shareholders meeting held in conjunction with the board meeting, Jerry Sanders reportedly asked investors to "reserve judgement for at least another year".
The company is counting on its next generation K7 processor, which ships in June, to move it up the PC food chain into the more profitable high performance workstation and server market.
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