Dirk Meyer, president and CEO of AMD. Credit: Reuters/Steve Marcus
Kumar, a 28-year AMD veteran, had been standing in as CFO since AMD announced the
departure of Thomas Siefert, who was liked by many on Wall Street.
Since 2001, Kumar was corporate controller at AMD, which like other PC-related companies has been hit by a slump in demand as smartphones and tablets grow in popularity.
AMD, one of Silicon Valley's oldest chipmakers, has been laying off engineers while looking for new markets for its chips as it faces dwindling cash reserves.