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AMD gives Dirk Meyer a seat on the board

The president and chief operating officer of the chipmaker will join CEO Hector Ruiz on AMD's board of directors.

Dirk Meyer's ascent at Advanced Micro Devices has reached the upper echelons of the company.

The company announced that Meyer, currently president and chief operating officer of the chipmaker, now sits on the company's board of directors, joining fellow executive and chairman of the board Hector Ruiz. Meyer seems the clear heir apparent to Ruiz at some point down the road, and will now get some experience as a director to add to his resume.

AMD's Dirk Meyer AMD

Meyer brings serious chip design cred to AMD's board. He's been involved in the development of several noteworthy processors, including Digital Equipment Corp.'s Alpha processor and AMD's own Opteron chip. He joined AMD in 1995, and was promoted to run AMD's chip business in 2005 after successfully overseeing the rollout of Opteron and the Athlon 64. He assumed his current role as president and COO after AMD completed the acquisition of ATI Technologies last year.

The board welcomed Meyer aboard in a very special way. Despite the fact that AMD has suffered through a tough year, losing millions of dollars, Meyer is getting a hefty raise. In a filing with the Securities and Exchange Commission, AMD noted that the board's compensation committee approved a $150,000 raise in Meyer's salary. He now makes $824,000 a year.