Advanced Micro Devices Inc. said late Wednesday that financial chief Devinder Kumar was retiring and that Marvell Technology Inc.’s Jean Hu would take his place.
Marvell MRVL, +3.81% announced that Hu was leaving effective Jan. 20, while AMD AMD, +1.48% said Hu would start Jan. 23.
Kumar will stay at AMD until April to ensure a smooth transition. Willem Meintjes, Marvell’s chief accounting officer since 2018, will succeed Hu as chief financial officer.
Marvell also narrowed the range of its fourth-quarter forecast to between $ 1.36 billion and $ 1.44 billion, while analysts surveyed by FactSet expect $ 1.4 billion.
Marvell shares fell 2% after hours, following a 3.8% gain to close at $ 38.42, while AMD shares slipped 0.4% following a 1.4% gain in the regular session to finish at $ 69.06.