(RTTNews) -  Chip maker Advanced Micro Devices, Inc. (AMD: News ) on Thursday announced the appointment of Thomas Seifert as senior vice president and chief financial officer. Seifert succeeds Robert Rivet, who was previously promoted to chief operations and administrative officer. Seifert will report to Dirk Meyer, AMD's president and chief executive officer, and would be responsible for leading the company's financial operations.

In a statement, Meyer said, "Thomas is a talented industry veteran with a wealth of knowledge and experience managing the operations and finances of companies in the most difficult and competitive sectors of the semiconductor industry. This knowledge and experience will enable him to further strengthen AMD's financial foundation and help accelerate our transformation into a product design and marketing leader."

Seifert, with proven financial, operations and management experience, will have responsibility for leading AMD's global financial organization. Seifert, a 20-year semiconductor industry veteran, joins AMD from Qimonda AG, where he most recently was a member of the management board as well as chief operating officer since 2006, and acting chief financial officer since 2008. At Qimonda, Seifert led the formation and subsequent initial public offering of the company.

Prior to Qimonda, Seifert served as senior vice president and general manager in the Wireless Business Group at Infineon Technologies AG. Seifert has also held executive positions at Siemens AG, White Oak Semiconductor, and Altis Semiconductor, a joint venture launched in 1992 between IBM and Siemens Semiconductor. He currently serves on the board of Virginia Commonwealth University's School of Engineering.

The prior CFO Rivet was earlier promoted as executive vice president and chief operations and administrative officer of AMD. Rivet oversees AMD's key centralized functions, including the company's supply chain operations, human resources, and information technology organizations. Rivet joined AMD in 2000 as senior vice president and chief financial officer.
Late last month, AMD appointed another technology industry veteran Craig Conway to its board of directors. Conway has more than 30 years of technology industry experience and leadership.

Conway has successfully led several technology companies, most recently serving as president and chief executive officer of PeopleSoft, Inc. from 1999 to 2004. While at PeopleSoft, the company grew into the world's second largest provider of enterprise business application software. Conway has also served as president and chief executive officer of TGV Software and One Touch Systems. Previously, he held executive management positions at a variety of leading technology companies including executive vice president at Oracle Corp. (ORCL).

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