AMD (NASDAQ: AMD) has announced the retirement of its president, Victor Peng, effective August 30, 2024. Victor Peng, who re-joined AMD in 2022 following the acquisition of Xilinx, is set to retire after playing a crucial role in successfully integrating and scaling the company's embedded business and leading its cross-company AI strategy.
During his tenure, AMD became the industry's top provider of FPGA and adaptive computing solutions. Victor Peng, who has over 40 years of experience in defining and delivering leadership technologies across FPGAs, SOCs, GPUs, and high-performance CPUs, will continue to serve on the AMD executive team in an advisory role until his retirement date.
As part of the transition, Senior Vice President of the Artificial Intelligence Group (AIG) Vamsi Boppana will expand his current responsibilities to include the AMD Instinct™ data center AI accelerator business. Boppana, who joined Xilinx in 2008, has been entrusted with additional responsibilities due to his technical and business leadership positions. Additionally, Salil Raje, Senior Vice President and General Manager of the Adaptive and Embedded Computing Group, will continue to lead the AMD embedded business.
Boppana and Raje will now report to AMD Chair and CEO Dr. Lisa Su, who expressed gratitude for Victor Peng's outstanding leadership, thanking him on behalf of the AMD board, executive leadership team, and the thousands of employees who have worked with him.
Following these developments, investors and analysts will be keen to see how the transition affects AMD's performance in the areas of AI and embedded computing, especially considering the company's recent achievements in the FPGA and adaptive computing solutions space. Following these announcements, the company's shares moved 2.8%, and are now trading at a price of $155.87. If you want to know more, read the company's complete 8-K report here.
