AMD (NYSE:AMD) CEO Dirk Meyer Resigns as Company Looks for Growth

While the departure of AMD (NYSE:AMD) CEO Dirk Meyer appears amicable, there is no doubt the Board of Directors want a new CEO in place that can drive growth at the company.

Meyer resigned Monday in the midst of the desire of the Board to generate more shareholder value.

While praising Meyer in a statement for helping lead the company in their legal battle with competitor Intel (Nasdaq:INTC), the board made no bones about the need for the company to grow, and believing it will take a change in leadership at the top to get it done.

On an interim basis, senior vice president and chief financial officer, Thomas Seifert, will replace Meyer until a permanent replacement is found.

AMD closed Monday at $9.19, gaining $0.36, or 4.08 percent.