AMD President Victor Peng is retiring, Vamsi Boppana to take over

According to the latest news, AMD President Victor Peng will retire on August 30. Peng returned to the company when AMD acquired Xilinx in 2022. During his short career at AMD, the company experienced great success in business and the stock market. Under the leadership of CEO Lisa Su, AMD took market share from Intel Corporation and surpassed Intel in market value. Peng, 64, served as CEO when Xilinx was sold. Before joining Xilinx, he worked at AMD from 2005 to 2008. AMD's senior vice president Vamsi Boppana will partially take over his president duties at AMD. Boppana will be responsible for AMD's Instinct data center artificial intelligence accelerator. The product is AMD's fastest-growing product ever and is key to whether AMD can challenge Nvidia Corp.'s leading position in this explosive growth market. AMD shares closed at $155.87 in New York, up 5.7% so far this year.