Lenovo president Rory Read named CEO of AMD

The PC maker has no immediate plans to name a Read’s replacement.

Rory Read, formerly president and chief operating officer at Lenovo, the third-largest PC maker in the world, on Friday was named as Chief Executive Officer at AMD, a global semiconductor design leader.

Lenovo has been the fastest growing major PC manufacturer for seven straight quarters. The company recently announced its first quarter earnings, including record global marketshare (12.2%), record quarterly unit sales (more than 10 million) and gains in virtually every region and product segment, while almost doubling profits year-to-year.

The following statement is attributable to Lenovo CEO Yang Yuanqing:

“Rory Read has made a significant contribution to our success during his time as president and COO at Lenovo. His selection as CEO of AMD is a great reflection of the way the industry views Lenovo’s talent and our performance.”

“Lenovo has tremendous momentum in the marketplace – and we are committed for the long term to delivering great PCs, mobile Internet devices and personal technology to customers around the world. Rory has played a key role in our record setting growth and our consistent performance. I am very confident that we have a strong team, great products, and the right strategy. Based on that, we will continue our strong growth momentum. Even with the changed industry landscape, we believe that our innovation and efficiency will make us the ultimate winner in the PC market.”

Lenovo has no immediate plans to name a new president/COO. The functions that reported to Read will now report to Yang.