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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: rudedog who wrote (55269)	3/31/1999 8:04:00 AM
From: rupert1	Read Replies (2) \| Respond to of 97611

rudedog: Palmer BoD News AMD to Nominate Ex-Chairman Of Digital as Member of Board By a WALL STREET JOURNAL Staff Reporter SUNNYVALE, Calif -- Advanced Micro Devices Inc. nominated Robert Palmer, the former head of Digital Equipment Corp., to its nine-member board, the company said in a proxy filing with the Securities and Exchange Commission. Mr. Palmer, 58 years old, served as chairman and chief executive of Digital, and negotiated its 1998 purchase by Compaq Computer Corp. Mr. Palmer's appointment is subject to shareholder approval at AMD's annual meeting April 29. Mr. Palmer's nomination represents an attempt by AMD to diversify its board, which some institutional investors have complained is dominated by company insiders and others with close ties to the current management. AMD, in fact, agreed in January to add a new independent director as a compromise with activist pension fund Teachers Insurance & Annuity Association-College Retirement Equities Fund, New York. AMD Chairman and CEO W. J. "Jerry" Sanders III, who has drawn fire in the past for his lavish compensation packages, didn't receive any additional bonuses or stock options in 1998, and didn't exercise any options during the year, AMD said in its proxy. Mr. Sanders earned a base salary of $1 million in 1998, supplemented by $516,503 in other compensation including deferred retirement compensation and cost-of-living adjustments, and in-kind compensation valued at $274,427 for items such as company vehicles and security expenses.