Hiding SharePoint site name in Masterpage with SharePoint Designer 2010

First find the content place holder   "PlaceHolderSiteName". Next wrap it with a div tag and set style as display:none

<td>
<div style="display:none">
.
.
<asp:contentplaceholder id="PlaceHolderSiteName" runat="server">
.
.
</div>
</td>


Reference link :http://www.ilikesharepoint.de/2012/12/sharepoint-2010-hide-the-title-and-description-from-ribbon/