Wall Street is offering somewhat different assessments of Monday’s announcement that Sunnyvale chipmaker Advanced Micro Devices (pictured here) is losing its Chief Financial Officer, Thomas Siefert.
In a note to their clients, analysts at BMO Capital Markets called Siefert’s decision to bolt the troubled company “incrementally negative.
“There has been a lot of turnover at the company,” they added, “and it is our sense that the CFO was fairly well thought of and was one constant over the past three years given what seems to be a continually revolving door at the company.”
But in their own note, analysts at Raymond James & Associates speculated that AMD’s recently appointed Chief Executive, Rory Read, may have been eager to name his own CFO.
As such, they said, “we’re not surprised to see Siefert leave.”