AMD has seen its share of ups and downs over the years, but the company has had it especially hard ever since its acquisition of ATI Technologies in 2006. Since then, the company has experienced numerous quarters of losses, announced job cuts, and has watched as top executives abandoned the chip giant.

Most recently, AMD announced that it would take another $880 million USD charge due to the poor performance of ATI's Consumer electronics division.

Today, AMD CEO Hector Ruiz stepped down from his position with the company. Ruiz joined the company in January 2000 and became CEO in April 2002. Ruiz will be replaced by the current Number 2 in charge, Dirk Meyer. Ruiz will stay on as the executive chairman of AMD's Board of Directors.

The future looks uncertain as the man who has become the face of AMD moves on to greener pastures. Meyer will have to find a way to get AMD back on a track to profitability and get its first 45nm processors out the door to combat Intel.

Ruiz's departure comes at a time when AMD is trying to fight off a surging Intel. Intel just recently announced a 25 percent increase in quarterly profits at the same time AMD was reporting losses. Intel also this week launched its Centrino 2 platform which aims to take much of the air out of AMD's Puma platform.

AMD, however, has obtained better success on the graphics front with its new Radeon HD 4850 and 4870 graphics cards which are the current "bang for the buck" kings. AMD garnered so much praise from reviewers and consumers alike that NVIDIA responded with price cuts to its recently introduced GeForce GTX 260 and GTX 280 graphics cards.

AMD may also have a little bit of help on its side in the form of an official FTC investigation into Intel's business behavior. But the fact remains, whatever the outcome of the FTC investigation, AMD still has to deliver a competitive product to stay alive in this cutthroat industry.

AMD CEO Hector Ruiz Steps Down