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ChannelWeb: "Hector Ruiz is out as chief executive at Advanced Micro Devices (NYSE:AMD) as the struggling chip maker on Thursday reported its seventh consecutive quarter in the red to the tune of a $1.19 billion loss in the second quarter of this year. Dirk Meyer, Sunnyvale, Calif.-based AMD's president and chief operating officer, has been elected by AMD's board to replace Ruiz as CEO, according to the company."