Summary
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 $525,000 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.
Key Highlights
- 1Don R. Bennett appointed Interim Chief Financial Officer (CFO) effective February 28, 2025.
- 2Wissam G. Jabre will cease to be CFO on February 28, 2025.
- 3Mr. Bennett will also assume the principal financial officer role.
- 4Mr. 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.
- 5Bennett's interim compensation includes a temporary annual base salary of $525,000.
- 6He is eligible for a temporary annual target incentive award of 120% of his base salary.
- 7Mr. Bennett will participate in standard executive severance, change in control plans, and other benefit programs.