AMD (AMD) Taps Hewlett's (HPQ) Wolfe for New CIO

Slowly building out its management team, AMD (NYSE:AMD) announced it has hired Hewlett-Packard's (NYSE:HPQ) Michael Wolfe as the new CIO of the company.

The five-year Hewlett veteran was the VP for Information Technology at Hewlett.

AMD’s interim CEO Thomas Seifert, said, “Mike has effectively led IT transformations constantly focusing on reducing operating costs and significantly improving business innovation. His considerable talent and experience will help AMD to continue strengthening our IT infrastructure and streamline our business based on our own products and platforms.”

AMD is still searching for a CEO to replace departed CEO Dirk Meyer, who shocked the market when he resigned suddenly in January.

Advanced Micro Devices closed Monday at $8.55, the same close as Friday.