Advanced Micro Devices Inc AMD.N Chief Executive Hector Ruiz says he has no plans to step down as head of the microprocessor maker next year.
AMD has in the past two years struggled with market share losses to its far larger rival, Intel Corp INTC.O, in the market for microprocessors. It is banking much of its turnaround on its Barcelona processor, which was launched in September, but has so far been hampered by an inability to ship as many of the processors as it would like.
Ruiz said in an interview with CNBC Europe to be broadcast later this week that President and Chief Operating Officer Dirk Meyer is being groomed to succeed him as CEO.
"Ruiz has to turn the ship around before he can turn over the helm," said Ashok Kumar, an analyst at CRT Capital Group LLC. "He and his team need to focus on executing and delivering what customers and the markets expect."
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