AMD PRESIDENT AND CEO HECTOR RUIZ APPOINTED CHAIRMAN OF THE BOARD
- W.J. SANDERS III APPOINTED CHAIRMAN EMERITUS; H. PAULETT EBERHART, RETIRED ELECTRONIC DATA SYSTEMS (EDS) PRESIDENT, AMERICAS, JOINS AMD BOARD OF DIRECTORS -
SUNNYVALE, CA - April 29, 2004 - AMD (NYSE: AMD) today announced that AMD president and chief executive officer Hector Ruiz was appointed chairman of the board following its annual stockholders meeting. AMD co-founder and former chairman of the board W.J. Sanders III was elected a director and appointed chairman emeritus in honor of his three decades of leadership. Mr. Sanders also advised his colleagues that he was retiring from the Board of Directors.
"On behalf of the board, we would like to express our thanks to Jerry for his leadership in managing the company from its inception through the transition to Hector as chief executive officer and today, chairman of AMD," said Robert Palmer, lead independent director. "We are pleased with Hector's performance and confident in the future of AMD."
In a related announcement, H. Paulett Eberhart was elected as AMD's newest director. Ms. Eberhart fills the vacancy left by Dr. Friedrich Baur, who did not stand for re-election. "With her nearly 30 years of experience at EDS, Ms. Eberhart brings outstanding financial and operational insight to the board," said Ruiz regarding the election of H. Paulett Eberhart, retired president, Americas for Electronic Data Systems (EDS), to the Board of Directors. "I would like to welcome Ms. Eberhart and thank Dr. Baur for his years of dedicated service to the board."
The board approved the following new committee structures: The Audit Committee consists of Dr. R. Gene Brown as Chair, Dr. W. Michael Barnes, Mr. Charles M. Blalack, Mr. Bruce Claflin and Ms. H. Paulett Eberhart. The Compensation Committee consists of Dr. Leonard Silverman as Chair, Mr. Charles Blalack, Dr. R. Gene Brown, Mr. Bruce Claflin and Mr. Robert Palmer. The Nominating and Corporate Governance Committee consists of Mr. Robert Palmer as Lead Independent Director and Chair, Mr. W. Michael Barnes, Mr. Charles Blalack, Mr. R. Gene Brown, Mr. Bruce Claflin, Ms. H. Paulett Eberhart and Mr. Leonard Silverman.
AMD shareholders approved the appointment of Ernst & Young LLP as independent auditors for the current year. Shareholders also approved AMD's 2004 Equity Incentive Plan.
The 2003 Annual Report on Form 10-K, corporate overview and proxy statement are available online at www.amd.com/arpr.
About Hector Ruiz
Hector Ruiz, 58, has been a director since 2000. He is currently president, chief executive officer and chairman of the board. Ruiz joined AMD as president and chief operating officer in January 2000 and became AMD's chief executive officer on April 25, 2002. Previously, he served as president of Motorola's Semiconductor Products Sector.
Born in Piedras Negras, Mexico, Ruiz earned bachelors and master's degrees in Electrical Engineering from the University of Texas, Austin. He earned his doctorate in Electronics from Rice University in 1973. Ruiz currently serves on the Advisory Committee for Trade Policy and Negotiations (ACTPN), which
provides the U.S. Trade Representatives with policy advice on trade issues. Ruiz also serves on the National Security Telecommunications Advisory Committee (NSTAC), which provides industry-based advice and expertise to the President on issues and problems related to implementing national security and emergency preparedness communications policy.
About H. Paulett Eberhart
Until her retirement March 31, 2004, H. Paulett Eberhart, 50, served as president, Americas at EDS. An employee of EDS since 1978, Eberhart previously served in a number of senior executive roles for the company, including senior vice president and president, solutions consulting; member, EDS Executive Operations Team and Investment Committee; senior vice president, information solutions, U.S.; senior vice president, finance. Eberhart holds a bachelor of science degree from Bowling Green University.
Ms. Eberhart previously served on the board of directors of AT Kearney, a subsidiary of EDS. She also served as the chair of the political action committee at EDS and is a member of the Financial Executives Institute and American Institute of Certified Public Accountants.
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