By Michael Dabaie

Advanced Micro Devices Inc. said it board elected President and Chief Executive Lisa Su as chairwoman of the board.

AMD said its board named John Caldwell as lead independent director. Mr. Caldwell joined the AMD board in 2006 and has served as chairman since May 2016.

AMD also said former Xilinx board members Jon Olson and Elizabeth Vanderslice have joined the AMD board in conjunction with the close of AMD's acquisition of Xilinx.

"Under Lisa's leadership, AMD has successfully executed a multi-year strategy that has significantly re-shaped the company's product portfolio and customer set and delivered industry-leading growth," Mr. Caldwell said. "As CEO and chair, Lisa will now have an ability to drive an even sharper focus for AMD and create greater shareholder value."

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(END) Dow Jones Newswires

02-14-22 0905ET