Advanced Micro Devices (AMD) Reward CEO that Cost Company Billions with a Raise

Advanced Micro Devices (AMD) is a large global supplier of integrated circuits who has seen their company lose billions of dollars over the past couple of years. Many blame the downfall of the company on CEO Hector Ruiz. Once a company loses as much money as AMD has, the CEO is usually downgraded or fired from his position. News has broke that this is not the case for Hector Ruiz. In fact, he has awarded himself a nice little raise that has industry insiders wondering what the company is thinking these days.

Hector Ruiz has caused the AMD company to add on an additional $3.7 billion dollars in long term debt. He has also caused the stock of the company to plummet 56.2-percent. Most intelligent people would figure that there are some severe issues with the person running your company. Surprisingly, it appears that the board of directors do not feel that this is true They actually awarded Ruiz a 7.4 percent gain from his previous salary. Ruiz made $1,046,358 last year and is set to make $1,124,000 the upcoming years. As you would expect, stock holders and industry insiders are all very shocked by this action. Hopefully, the move does not turn out to further hurt the company in the near future.

The 7.4 percent increase is not the only thing that Hector Ruiz was awarded. It has also been reported that the board of directors gave Ruiz a generous amount of stock options. Reports indicate that the board of directors agreed on giving Ruiz nearly $13 million in stock options. This equals a pretty hefty salary for someone who has been doing and absolutely horrible job at running the company. It appears that Ruiz blames the continued failure on making several mistakes that have greatly humbled the company. Yet, they feel as if they have learned from the mistakes and will be better prepared for future business moves. Many are curious to see if the company can return back to its original form.