AMD has a new chief following the appointment of Rory P. Read to the position of President and CEO. If that name sounds familiar it’s because Rory’s last job was as Chief Operating Officer of Lenovo, a company that just announced a near doubling in net profits in Q1. Read worked at IBM for 23 years prior to that. Naturally, the man has a few words for the troops and investors:

"I’m very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond."

Outgoing interim CEO Thomas Seifert will return to his role as CFO.