Lisa Su Secures 731 Million Votes In AMD Election - Talks About Tight Supply Chain

Advanced Micro Devices, Inc's (AMD) primary executive officer Dr. Lisa Su received roughly 732 1000000 votes in favor of her remaining on the visitor's board of directors. The votes were cast as part of AMD's almanac shareholder coming together, which took place on Wednesday, and Dr. Su, along with other board members, was upwardly for re-ballot as an AMD manager. In addition to the board of directors' ballot, other items on the agenda included approving executive compensation and securing the date of AMD's bookkeeping business firm.

AMD Chief's Overwhelming Support Eclipses Other Company Board Members During Election

Up for re-ballot to AMD'south lath on Wednesday were all current members, with the longest-serving member being John Caldwell, who is also AMD's chairman. Once the voting was over, the results shared by AMD with the SEC yesterday reveal that Dr. Su managed to secure the highest number of votes, equally only a hairline percentage of the voters chose to vote against her.

The results reveal that the AMD chief managed to secure roughly 732 million votes, eighteen million more than than Mr. John Marren, who has been on the board since 2017 and is responsible for AMD's Audit and Finance and Corporate Governance Committees.

Additionally, only i.seven million shareholders voted against Dr. Su'due south appointment, a figure vastly smaller than the 18 million votes against Mr. Marren's appointment. They also pale when compared to the 151 million votes against the re-appointment of Mr. Abhi Y. Talwalkar, who has been serving on the board since 2017.

Dr. Su's date came every bit AMD announced a $4 billion share buyback program on Wednesday, which is the outset such announcement from the visitor since 2001. It marks management confidence in its current capital allocation, hinting that AMD believes that information technology has sufficient capital to fund its growth and repurchase its shares for the showtime time in two decades.

Commenting on the repurchase, Dr. Su stated during the shareholder meeting that:

Yeah you know we're very pleased with the progress that we've made in the business over the last few years. And it's really been a multi-twelvemonth growth strategy and I know many of y'all have been with u.s. on this journeying. Based on our very strong fiscal results and the cash generation that we meet going forward this is enabling us to you know first as I said, our first priority is to invest significantly in the business concern. We see significant growth opportunities across our business portfolio. Simply information technology is the correct time to showtime the return of capital to our shareholders and we remember this share repurchase programme is the right thing to exercise. This is the next step in our capital resource allotment strategy and will enable us to limit dilution from share issuances as well as reduce share count over time. And so we'll continue to evaluate what the best upper-case letter allocation strategy is over fourth dimension. Merely we're very excited to exist able to start the return of capital to our shareholders.

The results of AMD's latest shareholder meeting as filed with the Securities and Exchange Commission.

During the shareholder meeting, the executive also commented on the strained semiconductor supply chains and her company's response.

Dr. Su outlined that:

So yep there are some overall tightness in the supply chain for semiconductors. We had a very stiff start of the twelvemonth and we take stiff visibility working with our customers besides as our supply concatenation in terms of what's available. Then yeah you know we exercise accept commitments to meet the 50% annual revenue growth in 2021. We're standing to work with our supply chain partners and customers every day to make sure we're satisfying their needs and we accept excellent partnerships with our wafer suppliers, you know TSMC and GlobalFoundries as well equally our manufacturing partners across the ecosystem. Then you lot know we go along to work closely with them. Overall I would say channel inventories are yet low in the supply concatenation, and and then we're continuing to work with our partners to ramp overall capacity as there's quite a bit more than that we would similar to do.

AMD procures all of its latest semiconductor products from the Taiwan Semiconductor Manufacturing Company (TSMC). TSMC, which operates out of Taiwan, is currently navigating through a historic drought in the isle and operating at full capacity to come across automakers' need following a shortage spurred by the ongoing pandemic.

Dr. Su, for her part, remains optimistic almost her company's future, as she believes that AMD's stiff product portfolio will assist information technology weather condition any future demand drops in the consumer electronics sector. In contrast, the demand for products such every bit notebooks and smartphones has been college due to remote working and distance learning, some worry that device makers will take excess inventory on their hands when things settle down.

Source: https://wccftech.com/lisa-su-secures-731-million-votes-in-amd-election-talks-about-tight-supply-chain/

Posted by: lewiskingince.blogspot.com

Share this post