Seagate appoints new President & CEO

NEW DELHI, INDIA: Seagate Technology announced that its Board of Directors has unanimously appointed Stephen J Luczo, the company’s Chairman, as President and CEO. Luczo will continue to serve as Chairman of the Board of Directors.

Luczo succeeds William D Watkins as CEO. Watkins will be advising Luczo in order to ensure a smooth transition. In addition, Luczo and Watkins will confer over Watkins' next role in the company.

“We are fortunate to have a leader of Luzco's vision and experience,” said Lydia M Marshall, Lead Independent Director and Chair of the Nominating and Corporate Governance Committee.

“His significant understanding of Seagate’s business and technology, and the customer and employee relationships that he built over his 15-year career at Seagate make him the ideal person to lead our company at this time.”

Luczo said, “Seagate is a strong company and we are making measurable progress toward regaining our longstanding product leadership position across all markets. I look forward to working closely with Seagate’s talented employees around the world to build upon our success and accelerate the improvements we are making in our business.”

He served as CEO of Seagate’s predecessor, Seagate Technology, from 1998 to 2004. During this time, Luczo successfully led the company’s privatization in 2000 and subsequent public offering in 2002, and Seagate announced some of the most important new products in the company’s history.

Luczo joined Seagate in October 1993 as Senior VP of Corporate Development and later served as President and COO from September 1997 until being appointed CEO.

The company will report fiscal second quarter financial results on Jan 21, after the close of the market. The company will host a conference call for the investment community on the same day.