AMD’s $49 billion Xilinx deal closes, company names CEO Lisa Su new board chair

Advanced Micro Devices Inc. shares
AMD,
+3.26%
are up nearly 3% in Monday trading after the chipmaker announced that its $49 billion deal for Xilinx has officially closed. AMD also said that Chief Executive Lisa Su has been appointed the chair of the company’s board, while John Caldwell, the prior chair, has been named lead independent director. “”As CEO and chair, Lisa will now have an ability to drive an even sharper focus for AMD and create greater shareholder value,” Caldwell said. Additionally, Jon Olson and Elizabeth Vanderslice, two former members of Xilinx’s board, will be joining the AMD board. AMD shares have dropped about 21% over the past three months as the S&P 500
SPX,
-0.56%
has lost roughly 6%.