AMD Announces Retirement of President Victor Peng and New Leadership Transition

San Jose, INTI — AMD (NASDAQ: AMD) has announced that AMD President Victor Peng will retire effective August 30, 2024. Victor will continue to serve on AMD’s executive team in an advisory role to support the transition until his retirement date.

“Victor rejoined AMD in 2022 following the acquisition of Xilinx and played a critical role in successfully integrating and scaling our embedded business and leading our company-wide AI strategy,” said AMD Chair and CEO Dr. Lisa Su. “Under his leadership, AMD became the #1 provider of FPGA and adaptive computing solutions in the industry. On behalf of the AMD Board, the executive leadership team, and the thousands of employees who have worked with him, I want to thank Victor for his outstanding leadership and wish him the best in his retirement.”

Victor Peng retires with over 40 years of experience in defining and delivering leadership technologies across FPGA, SoC, GPU, and high-performance CPU. He has served as president of AMD since February 2022, when he rejoined the company following the acquisition of Xilinx, where he spent 14 years, most recently serving as president, CEO, and board director.

As part of the leadership transition, Senior Vice President of the Artificial Intelligence Group (AIG), Vamsi Boppana, will expand his current responsibilities to include the AMD Instinct™ data center AI accelerator business. Boppana joined Xilinx in 2008 and has held various technical and business leadership positions. He is currently responsible for the development of company-wide AI software and ecosystems and AI hardware roadmaps. Additionally, Senior Vice President and General Manager of the Adaptive and Embedded Computing Group, Salil Raje, will continue to lead AMD’s embedded business. Boppana and Raje will now report to AMD Chair and CEO Dr. Lisa Su.

For more than 50 years, AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Billions of people, Fortune 500 businesses, and leading-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work, and play. AMD employees focus on building leadership, high-performance, and adaptive products that push the boundaries of what is possible.

Ushering in the Future of Technology with New Leadership

This transition marks a strategic step for AMD in strengthening its position as a leader in AI technology and adaptive computing. Amid increasing competition in the tech industry, AMD remains committed to innovation that pushes technological boundaries and delivers the best solutions for their customers.

Vamsi Boppana, with his extensive experience in AI and semiconductor technology, is expected to lead AMD to new achievements in AI accelerator technology. Meanwhile, Salil Raje will continue to lead AMD’s embedded business, which plays a vital role in various industrial and commercial applications.

The new leadership is expected to bolster AMD’s strategy of delivering innovative products that meet the evolving market demands. With a focus on developing AI software and ecosystems, AMD is poised to face future challenges and remain a leader in the technology industry.

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