Posted on Saturday, January 22 2011 @ 1:26 CET by Thomas De Maesschalck
AMD revealed former CEO Dirk Meyer received a $12 million severance check:
Advanced Micro Devices cut Dirk Meyer a $12 million severance check when it showed him the door after two and a half years as chief executive. That's not a record but clearly hits the high end of recent golden parachute payments in the semiconductor industry.
AMD revealed the $12 million pay out in a quarterly conference call today. Acting chief executive Thomas Seifert had little to say about the rationale for letting Meyer go despite several questions on the topic.
Separate reports pegged Meyer's severance package in cash payments and stock at anywhere from $8.55 million to $18 million. Before leading the company, Meyer was a top engineering manager at AMD behind its Opteron processors that drove a comeback for the company.
Source: EE Times.
