Summary
Western Digital Corporation (WDC) has announced a significant leadership change, appointing Wissam G. Jabre as its new Executive Vice President and Chief Financial Officer (CFO), effective the week of February 7, 2022. Mr. Jabre will succeed Robert K. Eulau and also assume the role of principal financial officer. This appointment brings a seasoned finance executive with extensive experience from prominent semiconductor companies like Dialog Semiconductor and Advanced Micro Devices to WDC's leadership team. The company has outlined a comprehensive compensation package for Mr. Jabre, including a base salary, target bonus, a substantial signing bonus, and significant equity awards. This package reflects the strategic importance of the CFO role and WDC's commitment to attracting and retaining top talent. Investors should monitor Mr. Jabre's initial contributions and strategic direction as he integrates into the company, particularly given his background in M&A activities at Dialog Semiconductor.
Key Highlights
- 1Wissam G. Jabre appointed as new Executive Vice President and Chief Financial Officer (CFO) and Principal Financial Officer.
- 2Mr. Jabre's appointment is effective the week of February 7, 2022, succeeding Robert K. Eulau.
- 3Mr. Jabre brings a strong financial background with prior CFO experience at Dialog Semiconductor and finance roles at Advanced Micro Devices.
- 4Mr. Jabre's compensation includes a $625,000 base salary, a 120% target bonus opportunity, and a $500,000 signing bonus.
- 5Significant equity awards include a $4.5 million sign-on RSU grant and a target annual equity award of approximately $4.5 million for FY2023, increasing to 500% of base salary from FY2024.
- 6Mr. Jabre will enter into the Company's standard indemnity agreement and participate in executive severance and change in control plans.
- 7The company issued a press release on January 27, 2022, announcing Mr. Jabre's appointment.