Eric Schmidt in August 2001. At Google, Schmidt shared responsibility for Google's daily operations with founders Page and Brin. Prior to the Google initial public offering, Schmidt had responsibilities typically assigned to the CEO of a public company and focused on the management of the vice presidents and the sales organization. According to Google, Schmidt's job responsibilities included "building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while the product development cycle times are kept to a minimum." Upon being hired at Google, Eric Schmidt was paid a salary of $250,000
Advanced Micro Devices the new venture's success, CEO Hector Ruiz stepped down as CEO of AMD in July 2008, while remaining Executive Chairman, in preparation for becoming Chairman of Global Foundries in March 2009. President and COO Dirk Meyer became AMD's CEO. Recessionary losses necessitated AMD cutting 1,100 jobs in 2009. In August 2011, AMD announced that former Lenovo executive Rory Read would be joining the company as CEO, replacing Meyer. AMD announced in November 2011 plans to lay off more than 10% (1,400) of its employees from across all divisions worldwide. In October 2012, it announced plans to lay off an additional