By JORDAN ROBERTSON and RACHEL METZ Jul 18, 2008
Under Hector Ruiz's leadership, chip maker Advanced Micro Devices Inc. rose to challenge larger rival Intel Corp. as never before in AMD's nearly 40-year history. Yet after six years as AMD's CEO, the embattled Ruiz stepped down Thursday as pressure mounts on the Sunnyvale-based company to dig itself out of a deep financial hole and recover from a devastating product stumble that wound up benefiting Intel in a big way. Ruiz, 62, the only person to head AMD other than founder and longtime chief executive Jerry Sanders, will remain on the board of directors. One of the few Hispanic CEOs of a major U.S. corporation, Ruiz had also been AMD chairman but now takes on the title of executive chairman, a distinction that lets him retain some day-to-day responsibilities.
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