Advanced Micro Devices, Inc. (NYSE:AMD) has announced that they have hired Bruce Claflin as the chairman of the company board of directors. Bruce replaces former CEO and Chairman Hector Ruiz. Ruiz is currently chairman of The Foundry Company.
Claflin has been on AMD’s board of directors since 2003. Dick Meyer will remain the CEO of the company.
Waleed Al Mokarrab has also been appointed to the board of directors. Waleed is the COO of Mubadala Development Company, based in Abu Dhabi.
Recently AMD spun off their manufacturing operations to Advanced Technology Investment Company (ATIC) and Mubadala. AMD will be receiving $700 million in exchange for ownership in The Foundry Company from ATIC.