Advanced Micro Devices board member will not stand for re-election
By APFriday, January 29, 2010
AMD board member will not stand for re-election
SUNNYVALE, Calif. — Chip maker Advanced Micro Devices Inc. said Friday that one of its board members will not stand for re-election at its next shareholders meeting.
Frank Clegg, chairman of Navantis Inc. and a former president of Microsoft Canada, has been on AMD’s board since May 2007.
Calls to AMD and Navantis, based in Toronto, were not immediately returned.
Earlier this month, AMD posted its first quarterly profit in three years, largely because of a $1.25 billion legal settlement with a competitor.
Shares of AMD, based in Sunnyvale, Calif., tumbled 55 cents, or 7 percent, to $7.33.
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