AMD (NYSE:AMD) Execs Exit After CEO Removed

Two executives are leaving AMD (NYSE:AMD) after the board removed Chief Executive Officer Dirk Meyer in January.

Leaving are Chief Operating and Administrative Officer Bob Rivet and Senior Vice President of Corporate Strategy Marty Seyer. Both are staying on during the transition period.

Both said they're leaving to pursue new opportunities, but it's probably part of a new team being put in place and a declining role in the company for the two.

Either way, the two seem to have had a shrinking role in the company since the departure of Meyer, and most investors will consider this a major disruption in any way.

Meyer was let go for his lack of focus and strategy concerning the mobile market.

AMD's major competitor is Intel (NASDAQ:INTC), which is struggling to rebound from a faulty chip problem which AMD appears to be taking advantage of.

AMD was trading at $8.11, down $0.13, or 1.58 percent, as of 12:19 PM EST.