Summary
Seagate Technology Holdings plc (STX) announced a significant leadership change in its finance department via an 8-K filing on July 30, 2018. The company disclosed that David H. Morton, Jr. resigned from his role as Executive Vice President and Chief Financial Officer, effective August 3, 2018. Mr. Morton is departing to assume a senior finance executive role at another company, but will continue to assist Seagate through the filing of its Fiscal Year 2018 Form 10-K. This transition period is intended to ensure a smooth handover of responsibilities. In response to Mr. Morton's departure, Seagate has appointed two internal executives to interim leadership positions. Kathryn R. Scolnick, Senior Vice President of Finance, Corporate Communications and Treasury, has been named Interim Chief Financial Officer, while Geraldine Hottier-Fayon, Vice President, Finance and Corporate Controller, will serve as Interim Principal Accounting Officer. Both individuals possess extensive experience within Seagate's finance organization, aiming to maintain stability and operational continuity during the search for a permanent CFO.
Key Highlights
- 1CFO David H. Morton, Jr. resigned effective August 3, 2018.
- 2Mr. Morton will remain with Seagate through the FY18 10-K filing to aid in transition.
- 3Kathryn R. Scolnick appointed as Interim Chief Financial Officer.
- 4Geraldine Hottier-Fayon appointed as Interim Principal Accounting Officer.
- 5Both interim appointments are internal promotions with significant experience at Seagate.
- 6The company is actively searching for a new permanent Chief Financial Officer.
- 7No family relationships or undisclosed arrangements exist between the interim officers and the company's directors or executive officers.