AMD Appoints New CAO, CFO Transitions Role

TL;DR

AMD CFO Jean Hu moves to new role, Steven Wood is new CAO, board member Rivelle departs.

AI Summary

Advanced Micro Devices, Inc. (AMD) announced on June 27, 2024, the appointment of Steven J. Wood as its new Chief Accounting Officer, effective July 1, 2024. Wood will succeed Jean L. Hu, who will transition to a new role as Executive Vice President, Chief Financial Officer, and Treasurer. The company also reported the departure of board member, Robert J. Rivelle, effective June 27, 2024.

Why It Matters

This filing indicates a significant shift in AMD's financial leadership, which could impact investor confidence and the company's financial reporting and strategy moving forward.

Risk Assessment

Risk Level: medium — Changes in key financial officers and board members can introduce uncertainty regarding future financial strategy and execution.

Key Players & Entities

• Advanced Micro Devices, Inc. (company) — Registrant
• Steven J. Wood (person) — Appointed Chief Accounting Officer
• Jean L. Hu (person) — Transitioning CFO to new role
• Robert J. Rivelle (person) — Departing Board Member
• June 27, 2024 (date) — Date of earliest event reported
• July 1, 2024 (date) — Effective date for new CAO

FAQ

From the Filing

0000002488-24-000109.txt : 20240702 0000002488-24-000109.hdr.sgml : 20240702 20240702162440 ACCESSION NUMBER: 0000002488-24-000109 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240627 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240702 DATE AS OF CHANGE: 20240702 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED MICRO DEVICES INC CENTRAL INDEX KEY: 0000002488 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 941692300 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07882 FILM NUMBER: 241095794 BUSINESS ADDRESS: STREET 1: 2485 AUGUSTINE DRIVE CITY: SANTA CLARA STATE: CA ZIP: 95054 BUSINESS PHONE: (408) 749-4000 MAIL ADDRESS: STREET 1: 2485 AUGUSTINE DRIVE CITY: SANTA CLARA STATE: CA ZIP: 95054 8-K 1 amd-20240627.htm 8-K amd-20240627 0000002488 false 0000002488 2024-06-27 2024-06-27 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 June 27, 2024 Date of Report (Date of earliest event reported) ADVANCED MICRO DEVICES, INC. (Exact name of registrant as specified in its charter) Delaware 001-07882 94-1692300 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification Number) 2485 Augustine Drive Santa Clara , California 95054 (Address of principal executive offices) (Zip Code) ( 408 ) 749-4000 (Registrant’s telephone number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s)  Name of each exchange on which registered Common Stock, $0.01 par value AMD The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 27, 2024, the Board of Directors (the “ Board ”) of Advanced Micro Devices, Inc. (the “ Company ”) and the Compensation and Leadership Resources Committee of the Board (the “ Committee ”), as applicable, approved the following changes to the compensation of certain members of the Company’s executive team: Base Salary Increases Effective July 1, 2024, the annual base salaries for the below-listed members of the Company’s executive team will increase as follows: Name and Title Annual Base Salary as of June 30, 2024 Annual Base Salary Effective July 1, 2024 Lisa T. Su, Chair, President and Chief Executive Officer $1,200,00