Seagate Technology Announces Planned Leadership Transition
25 July 2017 - 10:00PM
Business Wire
Dave Mosley to become CEO, Steve Luczo to
become Executive Chairman
Seagate Technology plc (NASDAQ:STX) today announced that its
Board of Directors has unanimously voted to appoint Dave Mosley,
Seagate's President and Chief Operating Officer, as Chief Executive
Officer effective October 1, 2017. Mr. Mosley was also appointed to
the Board of Directors of Seagate, effective July 25, 2017. Steve
Luczo, who currently serves as Chief Executive Officer, will
transition to the role of Executive Chairman on October 1, 2017 in
order to focus on longer-term shareholder value creation.
"It has been an honor and a privilege for me to have served as
Seagate's CEO in 16 of the last 20 years. I am grateful to our
amazing employees, customers, suppliers, and shareholders. I am
excited about our future and I look forward to working with
Dave in my new role as executive chairman at Seagate," said
Steve Luczo, Seagate's Chairman and CEO.
Mr. Mosley joined Seagate in 1995 and in his current role is
responsible for Seagate’s Global Operations, Sales and Marketing,
Research and Development, Supply Chain / Procurement as well as
Logistics and IT.
"I am honored to lead Seagate into the next era of leadership in
the storage technology market and I am excited about the
opportunities ahead for the Company. Seagate has a critical role in
storing and securing the world's data and I am proud of our
tremendous global employee organization that works every day to
support that effort. I look forward to Steve's ongoing counsel in
the role of Executive Chairman," said Mr. Mosley.
"Steve and the Board have been actively working towards this
transition for the last two years and we are confident that Dave
Mosley is the right leader for the Company's future success," said
Mike Cannon, Seagate's Lead Independent Director and Chairman of
the Nominating and Corporate Governance Committee. "Dave's tenure
in the storage industry, deep expertise in multiple technologies
and broad international experience will enhance Seagate's
competitive position and future opportunities. On behalf of the
Board, I would like to thank Steve for his significant leadership
contributions and commitment to shareholder value creation. We look
forward to Steve's ongoing stewardship as Executive Chairman."
Under Mr. Luczo's leadership as CEO from January 2009 through
the end of Seagate's fiscal 2017, Seagate's overall Total
Shareholder Return (TSR) is in the top 15 companies in the S&P
500 Index.
About Seagate
Seagate creates space for the human experience by innovating how
data is stored, shared and used. Learn more at www.seagate.com.
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©2017 Seagate Technology LLC. All rights reserved. Seagate,
Seagate Technology, and the Spiral logo are registered trademarks
of Seagate Technology LLC in the United States and/or other
countries. All other trademarks or registered trademarks are the
property of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20170725005782/en/
Media Contact:Seagate TechnologyEric DeRitis,
408-658-1561eric.deritis@seagate.com
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