AMD steals Marvell’s Jean Hu for CFO slot as Devinder Kumar retires


Advanced Micro Devices Inc. said late Wednesday that chief financial officer Devinder Kumar is retiring and that Jean Hu of Marvell Technology Inc. will take its place.

Marvell MRVL,
announced that Hu would leave on January 20, while AMD AMD,
said Hu would start on January 23.

Kumar will remain with AMD until April to ensure a smooth transition. Willem Meintjes, Chief Accounting Officer of Marvell since 2018, succeeds Hu as Chief Financial Officer.

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Marvell also narrowed the range of its fourth-quarter forecast to between $1.36 billion and $1.44 billion, while analysts polled by FactSet expect $1.4 billion.

Marvell shares fell 2% after hours after gaining 3.8% to close at $38.42, while AMD shares fell 0.4% after gaining 1.4% in the regular session to close at $38.42. end up at $69.06.