AMD announced that Deng Yuanyun, AMD's global vice president and president for Greater China, will soon leave the company for personal career development reasons; and Pan Xiaoming, AMD's global vice president and managing director for Greater China, will be the new leader for this region.
Deng joined AMD in December 2010 as AMD's global senior vice president and president for Greater China. Starting from February 1, 2011, Deng was fully in charge of the strategy and detailed work in Greater China. Before joining AMD, Deng worked for Nokia (China) Investment Company as vice chairman. He was mainly responsible for government relations and strategic cooperation at that time.
Pan, the new leader of AMD Greater China, has been working for AMD for eight years and he has been holding important positions in the Greater China executive team. Prior to this appointment, Pan was in charge of the business between AMD and Lenovo. According to AMD China, under the leadership of Pan, the business achieved 60% operating revenue growth between 2010 and 2011.
Deng's departure may be related to the performance. AMD once had high expectations about the Chinese market; however, the sales in this marketplace failed to meet the expectations since the second quarter of 2012.
As a part of the company's restructuring plan, AMD is implementing a new round of layoffs and the Shanghai research and development center will reportedly be impacted.
AMD's report for the third financial quarter of 2012 showed that the company's operating revenue was USD1.27 billion, a year-on-year decrease of 25%. At the same time, it saw net losses of USD157 million; while it made net profit of USD97 million in the same period of last year.