When AMD tried to find someone to fill Dirk Meyer’s shoes, Pat Gelsinger was approached, but since Pat was already next in line to become the CEO of EMC with a huge number or stock options and an amazing financial package, it was very hard for AMD to match that.
Sarcastic industry watchers would say that no one wants to be the captain of a listing ship but many still believe that there is hope for AMD.
Gelsinger would probably do a magnificent job as a CEO of AMD and he would have made a great Intel CEO too, but sadly that ship has sailed for both companies.