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WESTERN DIGITAL CORP 8-K Report, Executive Changes (Feb 3, 2025)

Reports
Leadership Changes
Filing Date
Filed February 3, 2025
Period End
January 30, 2025
Security
WDC
In the record · 2016–202610-K1110-Q328-K197

WDC filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 197 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’18May ’18
  2. Leadership change8-K · Jun ’20Jun ’20
  3. Material agreement8-K · Jul ’22Jul ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed February 3, 2025. Cited figures are marked; the original filing is the authoritative source.

Western Digital Corporation (WDC) announced a CFO transition, with Wissam G.

Jabre stepping down as Chief Financial Officer on February 28, 2025. Concurrently, the Board of Directors has appointed Don R. Bennett as Interim Chief Financial Officer, effective on the same date.

Mr. Bennett, who has a long tenure with the company since 1995 and most recently served as SVP, Finance and CFO of the HDD business, will also assume the principal financial officer role. This appointment brings a seasoned internal executive to lead the finance function on an interim basis. Investors should note the terms of Mr. Bennett's interim role, including a temporary annual base salary of $525,000a and a target annual incentive of 120% of base salary, both effective from his appointment date until three months after his interim CFO tenure concludes.

He will also be eligible for standard executive compensation and benefits. The company has stated there are no arrangements or understandings impacting his appointment, and no family relationships with other executives or directors.

02—Key points

Key Highlights

  1. Don R. Bennett appointed Interim Chief Financial Officer (CFO) effective February 28, 2025.
  2. Wissam G. Jabre will cease to be CFO on February 28, 2025.
  3. Mr. Bennett will also assume the principal financial officer role.
  4. Mr. Bennett has extensive experience with WDC, serving in various finance and operational roles since 1995, most recently as SVP, Finance, and CFO of the HDD business.
  5. Bennett's interim compensation includes a temporary annual base salary of $525,000.
  6. He is eligible for a temporary annual target incentive award of 120% of his base salary.
  7. Mr. Bennett will participate in standard executive severance, change in control plans, and other benefit programs.

03—Questions

Frequently Asked Questions

  1. Why is Wissam G. Jabre stepping down as CFO?

    The filing does not provide a specific reason for Mr. Jabre's departure as CFO. It only states that he will cease to hold the position on February 28, 2025.

  2. What is Don R. Bennett's background and experience?

    Don R. Bennett has been with Western Digital since 1995 and has held numerous senior finance and operational roles. Most recently, he served as Senior Vice President, Finance, and Chief Financial Officer of the Company's hard disk drive (HDD) business since November 2020. His experience spans finance, marketing, operations, corporate development, and strategy.

  3. What is the compensation for the Interim CFO, Don R. Bennett?

    Mr. Bennett will receive a temporary annual base salary of $525,000 and a temporary annual target incentive award opportunity of 120% of his annual base salary. These terms are effective from February 28, 2025, and will continue for three months after he ceases to serve as Interim CFO.

  4. Are there any unusual circumstances surrounding Mr. Bennett's appointment?

    No, the company stated that there are no arrangements or understandings between Mr. Bennett and any other person pursuant to which he was appointed interim CFO, and there are no family relationships with any director or executive officer of the company.

04—Continue

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