Rory Read: “We Are Not Actively Pursuing The Sale Of AMD”
AMD CEO Rory Read has responded to a Reuters article that said the semiconductor company is putting themselves up for sale after posting disappointing Q3 results last month. Below is a candid e-mail that AMD CEO Rory Read sent out internally.
Within the past couple of hours, a major media outlet wrote a piece speculating about the sale of AMD. As you know, articles such as this periodically surface in the media. I want you to know exactly how we are responding to this speculative piece, as we expect some additional media outlets to inquire. Our official response is below, along with the original news article.
But let me personally reinforce to you: we are not actively pursuing the sale of AMD or any of our significant assets. It’s full steam ahead with our strategy … we absolutely are on the right path.
AMD Vice President Lisa Su had engaged in a major stock transaction in the days before the rumor started. If sales talks were happening, then this could be considered insider trading.
[TheVerge]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry