(Bloomberg) -- Advanced Micro Devices Inc. President Victor Peng, who rejoined the chipmaker when it acquired Xilinx Inc. in 2022, will retire effective Aug. 30.
Peng’s short career at AMD coincides with one of its most successful spells in business and the stock market. Under Chief Executive Officer Lisa Su, the once-also ran has gained market share from larger rival Intel Corp. and eclipsed it in market capitalization.
Peng, 64, had been CEO at Xilinx when it was sold. He had worked at AMD from 2005 to 2008 before joining Xilinx. His duties as president at AMD will be taken over in part by Senior Vice President Vamsi Boppana, the chipmaker said Monday in a statement.
Boppana will take responsibility for AMD’s Instinct data center artificial intelligence accelerators. That product, which the company has said is its fastest growing ever, is key to AMD’s ability to mount a challenge to Nvidia Corp.’s lead in that exploding market.
AMD shares closed at $155.87 in New York, leaving them up 5.7% this year.
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