IRVINE, Calif., Aug. 12, 2015 /PRNewswire/ -- Western
Digital® Corp. (NASDAQ: WDC) today announced that
Chairman Tom Pardun, 71, will retire
after 22 years of service on its board of directors, in compliance
with the company's mandatory retirement-age policy for directors.
Matthew Massengill, 54, a former
chairman, president and chief executive officer of the company and
a director since 2000, has been appointed to succeed Pardun as
chairman. Len Lauer, 58, chairman
and chief executive officer of Memjet and a Western Digital
director since 2010, was named lead independent director of the WDC
board. The changes will become effective at the company's next
annual meeting of shareholders in November
2015.
Pardun joined the Western Digital board in 1993 when the
company's revenues stood at $938
million. He served two terms as chairman for a total of 10
years and as lead independent director for the six years between
his terms as chairman.
"Western Digital shareholders have been well served by
Tom Pardun's stewardship for more
than two decades," said Steve
Milligan, president, chief executive officer and director.
"His guidance and governance during many noteworthy stages of the
company's history have been invaluable. On behalf of fellow
directors, employees and shareholders, we thank Tom for his
distinguished service.
"It is a pleasure to welcome Matt
Massengill back to the chairman's role," said Milligan.
"Matt's experience and knowledge will be critical in his leadership
role of our board as the company transforms itself in the evolving
storage industry."
About Western Digital
Founded in 1970, Western Digital Corp. (NASDAQ: WDC),
Irvine, Calif., is an
industry-leading developer and manufacturer of storage solutions
that enable people to create, manage, experience and preserve
digital content. Its HGST and WD® subsidiaries are
long-time innovators in the storage industry. Western Digital
Corporation is responding to changing market needs by providing a
full portfolio of compelling, high-quality storage products with
effective technology deployment, high efficiency, flexibility and
speed. Our products are marketed under the HGST, WD and
G-Technology™ brands to OEMs, distributors, resellers, cloud
infrastructure providers and consumers. Financial and investor
information is available on the company's Investor Relations
website at investor.wdc.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning changes to WDC's board composition and structure, the
impact of these changes on the WDC board, the company's
transformation and the evolution of the storage industry. These
forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements, including: volatility in
global economic conditions; business conditions and growth in the
storage ecosystem; pricing trends and fluctuations in average
selling prices; the availability and cost of commodity materials
and specialized product components; actions by competitors;
unexpected advances in competing technologies; the development and
introduction of products based on new technologies and expansion
into new data storage markets; and other risks and uncertainties
listed in the company's filings with the Securities and Exchange
Commission (the "SEC"), including the company's Form 10-Q filed
with the SEC on May 12, 2015, to
which your attention is directed. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date hereof, and the company undertakes no obligation to
update these forward-looking statements to reflect new information
or events.
Western Digital, WD and the WD logo are registered trademarks in
the U.S. and other countries. HGST trademarks are intended and
authorized for use only in countries and jurisdictions in which
HGST has obtained the rights to use, market and advertise the
brand. Other marks may be mentioned herein that belong to other
companies.
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SOURCE Western Digital Corp.