AMD Ends CEO Search, Hires Lenovo Veteran

Advanced Micro Devices Inc named Rory Read as its new chief executive, hiring the Lenovo Group Ltd executive after a search that began in January.

A technology industry veteran, Read, who previously served as Lenovo’s president and chief operating officer, will be charged with narrowing the gap between AMD and top PC chipmaking rival Intel Corp. Read, 49, will take over from Tom Seifert, who has served as the temporary leader since the company’s board ousted Dirk Meyer more than half a year ago, after they disagreed over the chipmaker’s strategy to establish a footprint in a booming market for mobile devices.