8-KLeadership Changes

WESTERN DIGITAL CORP 8-K Report, Executive Changes (Aug 10, 2012)

Filed August 10, 2012For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K report on August 10, 2012, detailing significant changes in its finance leadership. The primary event reported is the reassignment of Joseph R. Carrillo from Vice President and Chief Accounting Officer to head the finance organization of the WD Division. Concurrently, Wolfgang U. Nickl, previously Senior Vice President and Chief Financial Officer, has been promoted to Executive Vice President and Chief Financial Officer. Crucially for investors, Mr. Nickl will now also assume the responsibilities of the Company's principal accounting officer, in addition to his principal financial officer duties. This consolidation of key financial oversight under Mr. Nickl is effective August 7, 2012. The report also discloses an adjustment to Mr. Nickl's compensation package, including an increased base salary and target annual bonus opportunity, reflecting his expanded role and responsibilities.

Key Highlights

  • 1Joseph R. Carrillo has moved from VP & Chief Accounting Officer to lead finance for the WD Division.
  • 2Wolfgang U. Nickl has been promoted from SVP & CFO to EVP & CFO.
  • 3Wolfgang U. Nickl will now also serve as the Company's Principal Accounting Officer, consolidating key financial oversight.
  • 4Mr. Nickl's annual base salary increased from $400,000 to $450,000.
  • 5Mr. Nickl's target annual bonus opportunity increased from 75% to 85% of base salary.
  • 6These changes were effective August 7, 2012.
  • 7The filing indicates no unusual arrangements or material interests for Mr. Nickl in his new role.

Frequently Asked Questions

This 8-K filing primarily reports on executive leadership changes within Western Digital's finance department. Specifically, it details a reassignment and a promotion, along with Mr. Nickl taking on the role of Principal Accounting Officer.

Wolfgang U. Nickl, the newly promoted Executive Vice President and Chief Financial Officer, is now also serving as the Company's Principal Accounting Officer, in addition to his role as Principal Financial Officer.

Mr. Nickl's compensation has been adjusted to reflect his expanded duties. His annual base salary increased from $400,000 to $450,000, and his target annual bonus opportunity rose from 75% to 85% of his base salary.

Mr. Carrillo's move to head the finance organization for the WD Division suggests a restructuring or refocusing of financial leadership within a specific segment of the company, while his previous role as Principal Accounting Officer is now consolidated under Mr. Nickl.