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New AMD CEO Gets $1 Million Base Salary

By - Source: AMD | B 60 comments

AMD revealed that it will paying its new CEO Rory Read a base salary of $1 million, the highest base salary for an AMD CEO in the company's history.

Read's predecessors Dirk Meyer and Hector Ruiz had a base of $950,000 each, plus the usual bonuses. Jerry Sanders left the daily business of AMD in 2002 with a salary of $916,000 (but may have earned more during certain years - for example, he reportedly earned $1.04 million in 1996, which may have included some bonuses).

Read also received a $1 million sign-on bonus, half of which he has to repay if he leaves AMD within the next 2 years. He is eligible for up to 150 percent bonus of his base salary as well as the common incentive programs. During a conference call with media and analysts, Read mentioned that the pay was not the reason why he is joining AMD, but rather the "exciting" opportunity. Referring to his salary, he noted that he held a great job before AMD at Lenovo as president and COO. However, we believe that the pay isn't a downside of this job either.

Read more about Read's hiring here.

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Top Comments
  • 14 Hide
    mute20 , August 26, 2011 2:10 PM
    Hope that million motivates him to get amd into shape vs intel.
  • 10 Hide
    fball922 , August 26, 2011 4:10 PM
    JungIt's not envy, it's disgust. He should a 100K base and the rest performance based.

    Good luck attracting the kind of talent required to run a complex business like AMD with a base salary of 100K. Idiot.
  • 10 Hide
    southernshark , August 26, 2011 2:17 PM
    Buying HPs line would be a disaster
    jdamon113now let get going with some new ideas.New CEO be smart, buy the HP PC Line they are selling it. this could do you well in the OEM market where intel holds supremacy.Not that I do not like intel. I have may intel products,. I would just like to keep the compition is check.


    Buying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
Other Comments
    Display all 60 comments.
  • 14 Hide
    mute20 , August 26, 2011 2:10 PM
    Hope that million motivates him to get amd into shape vs intel.
  • 10 Hide
    jdamon113 , August 26, 2011 2:14 PM
    now let get going with some new ideas.
    New CEO be smart, buy the HP PC Line they are selling it.
    this could do you well in the OEM market where intel holds supremacy.
    Not that I do not like intel. I have may intel products,. I would just like to keep the compition is check.
  • 10 Hide
    southernshark , August 26, 2011 2:17 PM
    Buying HPs line would be a disaster
    jdamon113now let get going with some new ideas.New CEO be smart, buy the HP PC Line they are selling it. this could do you well in the OEM market where intel holds supremacy.Not that I do not like intel. I have may intel products,. I would just like to keep the compition is check.


    Buying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
  • 1 Hide
    del35 , August 26, 2011 2:19 PM
    Quote:
    A million isnt what it used to be.


    Ummm, the purchasing power of the dollar has fallen over 30% in the past 3 years. So yes, that is not such a great salary.

    http://youtu.be/HMJj7_wc8YY

  • 6 Hide
    acadia11 , August 26, 2011 2:38 PM
    I don't think that's huge for a CEO, or a company of it's size.
  • 3 Hide
    bustapr , August 26, 2011 2:42 PM
    I actually thought their base was more. I expected the leader of AMD to get paid millions right off the bat. Its pleasantly surprising to know AMD pays the boss a good amount for the job, that noone can really complain about.
  • -2 Hide
    alidan , August 26, 2011 3:02 PM
    soldier37Before some of you start to wealth envy, that salary seems about right for the job. A million isnt what it used to be. Yeh it would be nice to have that in the bank but really it I could go through it in a couple years at the rate everything is going. I just hope AMD gets its act together with Bulldozer and get competitive again.


    if you put 1 million into stocks, at about a 7% interest rate a year, which is about what stocks yield at minimum if you don't suck at playing the market, thats 70k on the interest alone. you could theoretically live your entire life off 1 million $ alone.
    southernsharkBuying HPs line would be a disasterBuying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.


    yea, but tell me, what to most of those lines put into their own pcs? it sure as hell isnt intel.

    what amd could do with the hp line, is use it as a platform to get amd out there. build monster systems, but don't sell it to make a profit, sell it to break even with a minimal profit. this way you are putting out pcs that are of amassing quality, but also cheap, and can get some bran recondition beyond the ati gpus.

    it could be a good move, than when the brand recondition is up, sell off the pc devision for a sizable profit, as the pc was just to get brad recondition up, not to pull in the profit, though selling it off for more is a nice bouns.

  • -5 Hide
    Jung , August 26, 2011 3:18 PM
    soldier37Before some of you start to wealth envy, that salary seems about right for the job. A million isnt what it used to be. Yeh it would be nice to have that in the bank but really it I could go through it in a couple years at the rate everything is going. I just hope AMD gets its act together with Bulldozer and get competitive again.


    It's not envy, it's disgust. He should a 100K base and the rest performance based.
  • 5 Hide
    slabbo , August 26, 2011 3:34 PM
    i agree, he's getting a cool million and hasn't done anything yet. what ever happened to performance base salary. work harder get paid better.
  • 10 Hide
    fball922 , August 26, 2011 4:10 PM
    JungIt's not envy, it's disgust. He should a 100K base and the rest performance based.

    Good luck attracting the kind of talent required to run a complex business like AMD with a base salary of 100K. Idiot.
  • -4 Hide
    captaincharisma , August 26, 2011 4:16 PM
    so AMD gives him all the money the company has left? :) 
  • 8 Hide
    Jung , August 26, 2011 4:20 PM
    fball922Good luck attracting the kind of talent required to run a complex business like AMD with a base salary of 100K. Idiot.


    I guess you've not worked under many CEOs. Many of them run the company into the ground and get paid big bucks for it. If they are truly talented, then I don't have a problem with them making big bucks, but they should get paid for results. I realize it's its not really setup that way; the system is already hosed.
  • 5 Hide
    damasvara , August 26, 2011 4:22 PM
    captaincharismaso AMD gives him all the money the company has left?

    Sarcasm sure fits ignorance real well...
  • 1 Hide
    eklipz330 , August 26, 2011 4:30 PM
    sounds very fair

    del35Ummm, the purchasing power of the dollar has fallen over 30% in the past 3 years. So yes, that is not such a great salary.http://youtu.be/HMJj7_wc8YY

    damn, how much you make bro?
  • 3 Hide
    Stardude82 , August 26, 2011 4:44 PM
    How much does a chief engineer make?
  • 5 Hide
    vir_cotto , August 26, 2011 4:48 PM
    del35Ummm, the purchasing power of the dollar has fallen over 30% in the past 3 years. So yes, that is not such a great salary.http://youtu.be/HMJj7_wc8YY


    That is a GREAT salary, that is a LOT more than I make, and I would not mind making that much, I guarantee you everyone else here wouldn't mind it either!

    I do agree that there is massive inflation though.
  • -3 Hide
    noblerabbit , August 26, 2011 5:23 PM
    wow, good luck AMD, please note, I sell in Disty, approx 300 Intel Processors, before 1 lonesome AMD cpu, or APU for that matter.
  • -8 Hide
    jujuvivi , August 26, 2011 5:33 PM
    Shame on AMD's board of director to pay this price!
    For a guy who doesn't know how works a transistor!

    The value of a company like AMD comes from the designers and engineers who create its products!

    Rory Read will be for nothing if Buldozer is a great success,
    but he will get the $:
    "150% of base salary plus incentive..."
  • 0 Hide
    Anonymous , August 26, 2011 6:27 PM
    Or they could find 333 Malaysian Ceo's with a degree just like their products lol :) 
    (250euro/$ a month X 12 = 3000)
    Remember multiple cores can do more at the same time so can more Ceo's lol.

    Like some guys above me already responded get payed more if you book results, that's a great idea.
    Unless ofcourse this guy owns a lot of shares of AMD himself already ;)  basically he could pay himself all he wanted.
  • 4 Hide
    pazygozo , August 26, 2011 6:48 PM
    Get over yourself geek, the money runs the place. period. Money pays R&D and the world best engineers and manufacturing to make whatever you want to produce, even the most brilliant engineer can produce $hyt if he has no funding. A man in Read's position has to have vision, think 5-10 years in advance of whatever crap you might want to buy by that time, understand the market, take a lot of risks and if he misses the target, not even by much, he will be canon fodder for the company, the media , and the PC geeks we are.
    Man, this guys are the gladiators of our time, victory or death, i hope he succeeds!
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