AMD's China Division Executive Departs Company
AMD has lost another key executive. The company confirmed the departure of David Tang, who was senior vice president and president of Greater China region for the company.
It was unclear whether Tang left voluntarily or whether he was let go. According to Digitimes, there have been rumors of a possible exit of Tang for some time.
Given its staff departures as well as economic challenges, AMD could use a small miracle to get its business back on track. Financial securities firm Evercore Partners recently cut AMD's fourth quarter outlook from a revenue expectation of $1.15 billion to $1.13 billion and a loss of 13 cents per share. For 2013, the environment could get worse as the firm predicts $4.8 billion in revenue, down from $4.87 billion. The forecast loss is 18 cents per share.
AMD's stock stood at $2.45 per share. AMD's current market cap is $1.74 billion.