In a move that will hurt the company, AMD (AMD) chief sales and marketing officer, Henri Richard will be leaving the company next month. The company has suffered its third straight quarterly loss, dropping $600 million in the second quarter.
Richard said of his leaving: "I am leaving AMD at a time when the company is in position to break the monopoly that plagues this industry. I am immensely proud of my contribution to AMD, and in particular, of the strong team I leave behind."
The monopoly he's referring to is Intel (INTC) who Richard has bashed through the years as employing unfair business practices.
Under Richard's reign, AMD made a big run at Intel, gaining market share, especially with chips in the server and mobile areas.
There's no doubt this is a blow to AMD, as Enderle Group Principal Analyst Rob Enderle told the E-Commerce Times, "Richard, in terms of sales execution, is without peer, and his departure is going to be painful."
While sales had been down over the last year, it was based on problems on the product end of it, not the sales; something some say may have frustrated Richard into making the decision to leave.
This comes on the heels of AMD announcing in April that it was cutting back on hiring in order to cut expenses. They look to cut about 5 percent of their workforce by not rehiring for workers that leave.
With former CEO of ATI, David Orton leaving recently, the company has to be concerned over this potentially becoming a stampede, as cutbacks can be demoralizing and people start thinking about working for growing businesses.
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