Eric Schmidt on its list of the 50 most important people on the Web, along with Google co-founders Page and Brin. Schmidt is one of a few people who became billionaires (in United States dollars) based on stock options received as employees in corporations of which they were neither the founders nor relatives of the founders. In its 2011 'World's Billionaires' list, "Forbes" ranked Schmidt as the 136th-richest person in the world, with an estimated wealth of $7 billion. On 20 January 2011, Google announced that Schmidt would step down as the CEO of Google but continue as the executive chairman of
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