By Josh Beckerman 

Advanced Micro Devices Inc. said Bruce Claflin will step down as chairman and named board member John Caldwell to replace him.

Mr. Claflin, a former chief executive of 3Com became chairman of the semiconductor company in 2009 and will remain on the board, the company said.

Mr. Caldwell, a board member since 2006, retired as chief executive of electronics-manufacturing services company SMTC Corp. in 2011.

Sunnyvale, Calif.-based AMD has tried to diversify, developing custom chips for buyers such as Microsoft Corp. and Sony Corp. for their gaming systems. But PC chips remain AMD's largest business, and its revenue there has suffered as PC growth has ebbed and Intel Corp. has expanded its market share.

AMD has posted a string of quarterly losses. Its shares surged after the company announced last month that first-quarter sales were above analyst estimates. On the same day, AMD also said it reached a deal for a China joint venture for its x86 chip technology.

In after-hours trading Thursday, the stock was up 1 cent to $3.60.

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

May 12, 2016 17:41 ET (21:41 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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