By Sabela Ojea


Advanced Micro Devices' longtime chief accounting officer Darla Smith has resigned from the position she has held since 2016, and will leave the company on Jan. 17.

The chip maker on Monday said it named Philip Carter, who was most recently chief accounting officer at Skyworks Solutions, as Smith's replacement.

Carter's base salary will be $400,000, and he will be eligible for an annual performance bonus target of 70% of his base salary, according to a Securities and Exchange Commission filing. The executive will also receive a cash sign-on bonus of $250,000, as well as an award of performance-based restricted stock units with a target value of $375,000, and a restricted stock unit award with a target value of $1.2 million.

The latest executive change at AMD comes less than a week after the company said it's reducing its global workforce by 4% after reporting that most of the growth it sees comes from its AI chips and other products for data centers.

The layoffs would affect about 1,040 employees. AMD had a global workforce of 26,000 employees as of Dec. 31, according to its latest annual filing with the Securities and Exchange Commission.


Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


(END) Dow Jones Newswires

11-18-24 1708ET