(AMD) has a new Senior Vice President and Chief Financial Officer (CFO), and his name is Devinder Kumar, the Sunnyvale chip designer announced this week. The 57-year-old executive will report directly to AMD President and Chief Executive Officer (CEO), Rory Read.<br /><br />"Devinder has been with AMD for more than 28 years and is a talented finance veteran with deep industry knowledge," said Read. “As we accelerate our strategic growth initiatives, Devinder will play an integral role driving the new business model in the near term and strengthening AMD’s long-term financial foundation."<br /><br />AMD Building<br /><br />The newly appointed CFO joined AMD in 1984 as a financial analyst and served a 10-year stint in Asia as a financial controller. Starting in 1998, Kumar ascended the ranks to several corporate roles, including Corporate Controller, Assistant Treasurer, Treasurer, and most recently, Senior Vice President and interim CFO.<br /><br />Kumar replaces Thomas Seifert, who left AMD in September to "pursue other opportunities." He has a bachelor's degree in ecology from the University of Malaya, Malaysia, a master's degree in biology from the University of California, Santa Barbara, and an MBA in finance from the University of California, Los Angeles.<br />