Apple is not the only company with big CEO news today.
As Cupertino loses an immortal leader, Advanced Micro Devices
As an aside, I finally sold my AMD shares earlier this week. With or without a winner at the helm, the stock no longer looks like a terrific investment at this point -- and I needed the cash to get into some new stocks while they're stunningly affordable. I just wish I would have sold earlier to preserve my capital better.
So the new guy tasked with wrestling multiple bears comes with an appropriate pedigree: Rory Read comes from leading PC manufacturer Lenovo, where he served as chief operating officer since 2009. You may recognize Lenovo as the Chinese company that took over the old IBM
That's a good start, but nothing to get excited about. AMD's search committee had gone looking for fresh blood in the upper echelons of Oracle
It's one thing to lead a refreshed up-and-comer against chip giant Intel
But that inspiration disappears when you look at what happened to the last guy. Meyer only turned AMD back from the brink of bankruptcy to reshape a badly damaged balance sheet and make the company profitable again after a multiyear dry spell. The Fusion strategy was just starting to bear fruit when the ouster came. If that's how AMD treats a proven success, then how mind-blowingly great do you have to be in order to enjoy any job security?
Will AMD challenge its many enemies under Rory Read's leadership? Add AMD to your Foolish watchlist if you want to know for sure.