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AMD (NASDAQ: AMD ) has named a new CFO, the company announced in an official statement. Devinder Kumar, who was serving as the interim CFO, will assume the role on a permanent basis.
Kumar replaces Thomas Seifert, who tendered his resignation last September. Kumar has been with the firm for 28 years and was its corporate controller before taking the interim CFO post. He is also a senior vice president at the company.
Kumar will report directly to Rory Read, AMD's president and CEO. The statement quoted Read as saying that the new CFO is to "play an integral role driving the new business model in the near term and strengthening AMD's long-term financial foundation."