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

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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,
+3.81%
announced that Hu would leave on January 20, while AMD AMD,
+1.48%
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.