Rory Reed was hired for two reasons.
1) He knew finances so they assumed he could cut costs in an effective but not counterproductive manner. The right cost cutting will allow AMD to grow via reducing debts and costs but not destroy your potential to create products vs no cost cutting due to you cut too deep.
2) He was a very successful career prior to AMD especially with the growth of Lenovo. Rory Read's career is like this
+++IBM worked his way up and became well known. Ended up as a Vice President who was in charge of IBM Services and E-Business strategy...aka helping making IBM the company they are now today instead of the commoditized computer hardware that HP and Dell are in.
+++Lenovo Chief Operating Officer and President (remember Lenovo acquired much of IBM). During this time Lenovo went from 4th place in PC market share from 7.0% to 12.5% which was 2nd place, a year and a half later after he left Lenovo was #1 in PC market share at 16.9%, and currently they are still #1 at 18.8%. Growing a business and acquiring market share in a highly competitive marketplace while still keeping margins (for Lenovo was profitable and had 7 quarters of great growth) is a very big deal. Now Rory was not the only one who made this happened but as COO and President he was part of this big tech story.
+++AMD where he was CEO for a little more than 3 years (3 years 3 months) but he also stayed on the board and helped transistion the new CEO for 4 months after that, so lets say 3.5 years. During this time he did great jobs with cutting costs and diversifying AMD's business. Her I am quoting wikipedia
At AMD, Read inherited a company that had approximately 95% of its revenue driven by the PC market.[6][7] Read diversified the portfolio to produce revenue of 50% from five new high growth markets, building over US$2 billion in new businesses.[8][9] Under Read, AMD lowered costs by over 30% while restructuring AMD debt strengthening the balance sheet and returning to non-GAAP profitability.[2][10] He was responsible for implementing an ambidextrous X86/ARM architecture and the clean sweep removal of new game consoles during his tenure.[11][12]
https://en.wikipedia.org/wiki/Rory_Read
Since leaving AMD he is now doing the exact same job title he used to have at Lenovo but now with Dell.
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Now the amazing things Rory Reed did was clean up AMD's balance sheet and actually starting to get revenue from embedded and custom chips. Now these custom chips do include the consoles but hopefully they will be more in the future.
The problem now with AMD is they need an architecture that people actually want, which requires having enough talent to design it, as well as making the right design decisions. Furthermore just because your architecture is great you need performance effective fabs that are cutting edge enough and competitive and you do not control these and a cost effective pricing on fabs they do not control.
Plus no delays for delays are much worse for a person who is playing catch up vs a person who has all the market share and customers that have no place else to go and would need to create relationships to switch in case of a sudden shortage.
So effectively all things that Rory may be good for but probably does not have the skills for and they hope this new CEO who specializes in the nuts and bolts can pull out a miracle.
Another downside of Rory is that they actually did not gain market share in the PC space, the growth was in places not the pc space. Now some of this is Rory's fault, but some of this is just AMD keep on fumbling the ball or its factor's AMD can not control like no 20nm.