05:16 PM EDT, 07/22/2024 (MT Newswires) -- Advanced Micro Devices ( AMD ) said late Monday that President Victor Peng will retire on Aug. 30, but will remain with the company's executive team in an advisory role through his retirement date.

Peng became AMD's president in February 2022.

Vamsi Boppana, senior vice president of the artificial intelligence group, will expand his responsibilities to include the AMD Instinct data center AI accelerator business.

AMD shares were down 1% in after-hours activity.

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