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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →AMD president Victor Peng retired on August 30, 2024, after the company announced his departure on July 22. He stayed on as an adviser during the transition. AMD reassigned parts of his work to existing executives rather than naming one successor: Vamsi Boppana took on the Instinct data-center AI accelerator business, while Salil Raje continued leading embedded computing. Both reported directly to CEO Lisa Su.
What AMD announced—and when Peng left
AMD announced Peng’s planned retirement on July 22, 2024. In a regulatory filing, the company said he had notified AMD on July 20 that he intended to retire effective August 30. He remained on AMD’s executive team in an advisory capacity to support the handoff until that date. AMD’s 2025 proxy statement later confirmed that he retired at age 64.
AMD’s announcement, its Form 8-K and its 2025 proxy statement establish the timing. This is a completed 2024 transition, not a pending retirement.
Who took on Peng’s responsibilities?
AMD did not announce a single successor to Peng. Instead, the company distributed responsibilities among leaders already in place:
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- Vamsi Boppana, senior vice president of AMD’s Artificial Intelligence Group, added the Instinct data-center AI accelerator business to his remit. He already led AI software and ecosystem development and AI hardware road maps.
- Salil Raje continued to lead the Adaptive and Embedded Computing Group and AMD’s embedded business.
- Lisa Su, AMD’s chair and CEO, became the direct reporting line for both Boppana and Raje.
That reporting structure indicates a division of Peng’s duties, not a one-for-one replacement. AMD’s announcement described a management transition; it did not say the company was changing its AI roadmap.
Why Peng mattered to AMD
Peng had been AMD’s president since February 2022, after returning to the company following its acquisition of Xilinx. Before that, he was Xilinx’s president, CEO and a board member. AMD said his career spanned more than 40 years across FPGAs, SoCs, GPUs and high-performance CPUs; the company’s 2025 proxy described more than 15 years of combined service at Xilinx and AMD.
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At AMD, the company credited him with helping integrate and scale the former Xilinx embedded business and leading AMD’s cross-company AI strategy. AMD CEO Lisa Su also credited him with helping build AMD’s position in FPGA and adaptive-computing products. AMD called itself the industry’s number-one provider in those categories in its announcement; that is the company’s characterization, not an independently established ranking.
How Xilinx fit into AMD’s broader portfolio
Xilinx expanded AMD beyond its traditional CPU and GPU businesses with FPGAs, adaptive SoCs and embedded-computing capabilities. Those products serve specialized applications, including communications, industrial systems and other embedded environments. They are not interchangeable with general-purpose data-center GPUs used for large-scale AI training, though adaptive and embedded technologies can complement AI systems in areas such as inference, networking and edge computing.
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- For the advanced Socket AM4 platform
Peng’s retirement therefore marked the departure of a prominent leader in AMD’s post-acquisition integration as well as a change in the executive structure overseeing AI and embedded businesses.
What the retirement did—and did not—signal about AI
AMD announced no retreat from AI or reversal of its product plans when it disclosed Peng’s retirement. Boppana retained AI leadership duties and added oversight of Instinct accelerators, while AMD continued to describe Instinct and its EPYC server processors as important growth areas in its July 30, 2024, quarterly results. That earnings release is evidence of the company’s stated priorities at the time, not proof that the leadership transition caused or had no effect on business performance.
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- Processor provides dependable and fast execution of tasks with maximum efficiency.Graphics Frequency : 2200 MHZ.Number of CPU Cores : 8. Maximum Operating Temperature (Tjmax) : 89°C.
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The announcement came as AMD was working to expand its data-center AI business and compete with Nvidia, but the available company disclosures do not say competitive pressure prompted Peng’s retirement. Nor do they establish what long-term effect his departure had on execution, customer relationships or AMD’s competitive position.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What AMD later disclosed about the retirement agreement
AMD’s 2025 proxy statement says the company entered a retirement transition agreement with Peng on July 30, 2024, to support transition planning. It describes equity and benefits provided under that agreement; those terms document the retirement arrangement and should not be read as evidence of why Peng retired.
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- Pure gaming performance with smooth 100+ FPS in the world's most popular games
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- Cooler not included
Among the disclosed terms, certain vested options remained exercisable until the earlier of one year after retirement or their expiration date. The proxy also reported accelerated vesting of 28,841 outstanding restricted stock units and prorated treatment for certain performance-based restricted stock units. AMD valued the accelerated RSU and PRSU vesting at approximately $9.61 million using its August 30, 2024 closing share price. It reported approximately $333,000 in incremental fair value from stock-option modifications and a COBRA reimbursement benefit valued at approximately $21,128.
AMD’s proxy statement provides the full disclosure and valuation basis.
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