AMD Boss, Dirk Meyer who took up job in 2008, resigns!

The chief executive of chipmaker Advanced Micro Devices (AMD) has resigned. AMD said Dirk Meyer had left with immediate effect, the company said was a "mutual" decision.

Thomas Seifert, Chief financial officer, will take on the top job on a temporary, helping AMD to "establish market leadership and generate superior financial returns".

AMD trails behind market leader Intel.

AMD is the world's second-largest maker of microprocessors, trying to compete against Intel chip which is used by more than 80% of the world's personal computers.