Chip maker Advanced Micro Devices (AMD) Monday promoted Dirk Meyer to the position of president and chief operating officer, according to a statement.
Previously, Meyer served as president and chief operating officer of the company's microprocessor business. AMD's statement credited Meyer with contributing to the company's recent successes in the microprocessor market, where it has taken market share away from principal rival Intel.
With Meyer's promotion, AMD's chairman and chief executive officer, Hector Ruiz, gives up the title of president. He and Meyer will share the "leadership and management" of the company, AMD said.