AMD loses three top executives in a single day

We're not quite sure what's going on at AMD but news that three top executives are leaving the company on the same day doesn't seem positive.

The most significant departure is John Byrne, who was promoted to Senior Vice President and General Manager of AMD's Computing and Graphics Business Group in June and has over 25 years of experience in senior positions. Byrne held the number two role at AMD but was known to have had his eye on the CEO position, which went to Dr Lisa Su last year. Byrne's duties will be taken care of by Su while AMD looks for a replacement.

Another strange departure is Colette LaForce, AMD's Chief Marketing Officer, who was brought in from Dell at significant cost just 2 years ago and with some fanfare, according to Kitguru. Additionally, Chief Strategy Officer Raj Naik is also leaving AMD on the same day.

Other than the typical PR spin, AMD offers no explanation as two why three top executives left the firm on Monday. Semiconductor analyst Patrick Moorhead noted he's surprised by the move but points out it's not unusual for a new CEO to clean house.

The changes are "part of implementing an optimal organization design and leadership team to further sharpen our execution and position AMD for growth," spokesman Drew Prairie said in an email.

AMD also said its board of directors approved retention awards for Chief Financial Officer Devinder Kumar and Chief Technology Officer Mark Papermaster.

Sources: KitGuru and Reuters