Summary
Seagate Technology plc filed an 8-K report on October 28, 2013, to announce significant executive leadership changes. Effective October 23, 2013, William D. Mosley has been promoted to President, Operations and Technology, expanding his oversight to include global hard drive, heads and media manufacturing, and global research and development. Simultaneously, Albert A. “Rocky” Pimentel has been named President, Global Markets and Customers, taking on responsibility for global customer engagement, sales operations, product line management, marketing, and retail activities. These promotions result in a title change for Stephen Luczo, who will now serve as Chairman and Chief Executive Officer, stepping down from the President title. Both Messrs. Mosley and Pimentel will continue to report to Mr. Luczo. The filing also notes that while promotions are effective, detailed changes to their compensation arrangements are still under finalization. No family relationships exist between these executives and other company directors or officers. The company incorporated by reference information regarding executive compensation and officer details from its previously filed Proxy Statement and Annual Report.
Key Highlights
- 1Executive Leadership Realignment: William D. Mosley appointed President, Operations and Technology; Albert A. Pimentel appointed President, Global Markets and Customers.
- 2Expanded Responsibilities: Mosley's role now encompasses global manufacturing (hard drives, heads, media) and R&D; Pimentel's role covers global sales, marketing, customer engagement, and retail.
- 3CEO Title Refocus: Stephen Luczo's title changes from Chairman, President and CEO to Chairman and CEO, with both new Presidents reporting to him.
- 4Effective Date: Promotions were effective as of October 23, 2013.
- 5Compensation Pending: Details regarding compensation adjustments for the newly promoted executives are not yet finalized.
- 6No New Disclosures on Family Relationships or Conflicts: The filing confirms no family ties between the promoted executives and other officers/directors.
- 7Incorporation by Reference: Executive compensation and officer details are referenced from prior SEC filings (Proxy Statement and 10-K).