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AMD's Ex-CEO Set for Nice Payout
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SAN FRANCISCO -- Former Advanced Micro Devices(AMD Quote) CEO Hector Ruiz is set to net $3 million for splitting the chipmaker in two.
The payment , disclosed in a regulatory filing Friday, is in addition to a new two-year contract that could be worth as much as $11.5 million for Ruiz to serve as nonvoting chairman of AMD's former manufacturing arm.
On Tuesday, AMD revealed the long-awaited details of its plan to adopt a so-called "asset-light" model, in which the Sunnyvale, Calif., company would focus on designing microprocessors and spin off its chip factories into a separate business. ...
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