Exhibit 99.1
Western Digital Announces CEO Succession Plan
Steve Milligan Intends to Retire as Western Digital CEO; Will Continue to
Serve as CEO Until a Successor is Appointed
Board Commences Search to Identify Company’s Next CEO
SAN JOSE, Calif. –October 30, 2019– Western Digital Corp. (NASDAQ: WDC) today announced that Steve Milligan, chief executive officer and a member of the Western Digital Board of Directors (“the Board”) since January 2013, has informed the Board that he intends to retire as the Company’s CEO. Milligan will continue to serve as CEO until the Board has identified and appointed a successor, and then will remain with the Company in an advisory role until September 2020 to ensure a smooth transition. He will also remain a director on the Company’s Board for a transition period after his successor is appointed.
The Board has initiated a search to identify Western Digital’s next CEO, and has engaged Heidrick & Struggles, a leading executive search firm, to assist in the process. In order to facilitate a comprehensive process, the Board will evaluate both internal and external candidates.
“On behalf of the Board, I want to thank Steve for his significant contributions and dedicated years of service to Western Digital,” said Matthew Massengill, chairman of the Board. “Since his appointment as CEO in 2013, Steve has led Western Digital’s transformation from a storage component provider to a diversified enabler of data infrastructure. Western Digital today has the broadest portfolio in the industry, offering customers a powerful combination of HDD storage and flash memory products. Steve has successfully driven the execution of many key strategic initiatives, including the Company’s acquisition of SanDisk, the integration of Western Digital, HGST and SanDisk, as well as the extension of Western Digital’s19-year partnership with Kioxia (formerly Toshiba Memory Corporation). Under Steve’s leadership, Western Digital has also built a strong culture of ethics and integrity, garnering international recognition as one of the World’s Most Ethical Companies.”
“Western Digital has significantly evolved since I first joined in 2002, and it has been an honor to lead this talented team through critical and transformative periods – not only for our company, but for the entire industry,” said Milligan. “We are currently at an inflection point in the semiconductor cycle and, as we prepare for a cyclical upturn, now is the right time to begin the transition to Western Digital’s next phase of leadership. Together, we have built a powerful platform and resilient business model that has remained nimble despite challenging market conditions. Importantly, I am confident in our team’s ability to build on our momentum to drive long-term growth and value creation.”
“The Board and management team are committed to ensuring a smooth transition, and we are grateful that we’ll continue to benefit from Steve’s experience and perspective throughout this process,” said Massengill. “As the Board conducts its search for Steve’s successor, we are focused on identifying a strong leader with a proven track record of operating successfully at scale while defining and executing a growth strategy driven by innovation, operational excellence, and world-class talent development.”
