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AMD CEO Dirk Meyer Resigns

In a surprise announcement, chipmaker AMD said its CEO Dirk Meyer has resigned and the company is looking for a replacement. The news comes at a time when AMD's (NYSE: AMD) product lineup is considered in the best shape it's been in for some time, thanks in no small measure to the engineering expertise and leadership Meyer exhibited as CEO.

But AMD faces a mighty competitor in chip giant Intel (NASDAQ: INTC) and AMD's board felt new leadership was needed to take the number two chipmaker to the next level.

"… the Board believes we have the opportunity to create increased shareholder value over time," AMD said in a statement. "This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives."

Datamation reports on AMD's announcement and why one analyst thinks Meyer leaves the company in great shape for the right CEO to bring it new levels of success. A deal with Apple might even be possible.

Read the full story at Datamation:
AMD Bombshell: Dirk Meyer Out as CEO