AMD CEO denies sale, says company is on the right path in leaked memo

AMD logoEarlier today we reported that AMD was considering an outright sale following its disappointing Q3 results last month. Well, CEO Rory Read quickly responded to the rumors with an internal email reinforcing the company's earlier official statement, saying "let me personally reinforce to you: we are not actively pursuing the sale of AMD or any of our significant assets. It's full steam ahead with our strategy … we absolutely are on the right path."

A likely reason the buyout rumor could not have been true to begin with comes courtesy of Seeking Alpha. AMD Vice President Lisa Su engaged in a major stock transaction in the days preceding the rumor, which, if she knew the company was exploring a sale, would amount to insider trading. The full text of Read's memo is below:

Team,

Within the past couple of hours, a major media outlet wrote a piece speculating about the sale of AMD. As you know, articles such as this periodically surface in the media. I want you to know exactly how we are responding to this speculative piece, as we expect some additional media outlets to inquire. Our official response is below, along with the original news article.

But let me personally reinforce to you: we are not actively pursuing the sale of AMD or any of our significant assets. It's full steam ahead with our strategy … we absolutely are on the right path.

Rory

Source: The Verge

Tags: AMD

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