Advanced Micro Devices Inc. said late Wednesday that financial chief Devinder Kumar was retiring and that Marvell Technology Inc.’s Jean Hu would take his place.
Marvell
MRVL,
announced that Hu was leaving effective Jan. 20, while AMD
AMD,
said Hu would start Jan. 23.
Kumar will stay at AMD until April to ensure a smooth transition. Willem Meintjes, Marvell’s chief accounting officer since 2018, will succeed Hu as chief financial officer.
Marvell also narrowed the range of its fourth-quarter forecast to between $1.36 billion and $1.44 billion, while analysts surveyed by FactSet expect $1.4 billion.
Marvell shares fell 2% after hours, following a 3.8% gain to close at $38.42, while AMD shares slipped 0.4% following a 1.4% gain in the regular session to finish at $69.06.
