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See the best of Reuters photography. See more | Photo caption Disputed islands Protests break out over disputed islands in the East China Sea. Slideshow Will & Kate's Asia tour The royal couple are on a nine-day tour of Southeast Asia and the South Pacific. Slideshow AMD loses respected CFO, shares plunge Tweet Share this Email Print Related News UPDATE 2-AMD loses respected CFO, shares plunge 5:33pm EDT Do PCs have a future? Intel thinks so Tue, Sep 11 2012 Intel cuts outlook on weak PC demand; shares drop Fri, Sep 7 2012 Best Buy names turnaround expert Joly as CEO Mon, Aug 20 2012 Related Topics Tech » Hot Stocks » Asian Markets » An AMD Opteron 6000 series processor is seen on a motherboard during a product launch in Taipei April 14, 2010. Credit: Reuters/Pichi Chuang By Noel Randewich SAN FRANCISCO | Mon Sep 17, 2012 5:34pm EDT SAN FRANCISCO (Reuters) - Advanced Micro Devices Inc said Chief Financial Officer Thomas Seifert was leaving the struggling personal computer chipmaker to pursue other opportunities, sending its shares down almost 12 percent. After filling in as AMD's temporary CEO through August last year, Seifert now wants to find a permanent CEO position, a source close to the company said. Seifert's departure is concerning because he had more experience at AMD than other top executives, said Evercore Partners analyst Patrick Wang. "Thomas leaving is a big deal. He was pretty well-liked by investors. He was viewed as he rock throughout all the changes," Wang said. Devinder Kumar, senior vice president and corporate controller, will serve as AMD's temporary CFO until a replacement is found. "Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," AMD said in a statement. In July, AMD slashed its outlook for second-quarter revenue after disappointing sales in China and Europe, becoming one of the biggest tech names to date to warn that a global economic slowdown is taking a harsher-than-expected toll. PC-related companies have been hit by a slump in demand as smartphones and tablets grow in popularity, but AMD's woes are also seen as at least partly company-specific, with executives and analysts pointing to problems with execution. After the board ousted previous CEO Dirk Meyer, over disappointment with AMD's limited success in developing products for the smartphone and mobile markets, Seifert stood in for several months until Read was hired. Forty-eight year-old Seifert had agreed to stay on while Read, who was previously president and chief operating officer at Lenovo, was brought up to speed, the source said. Seifert will stay on through September 28, AMD said. AMD shares fell 11.72 percent in extended trading after closing up 2.82 percent at $4.01. (Reporting By Noel Randewich; Editing by Richard Chang and Andre Grenon) Tech Hot Stocks Asian Markets Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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