8-KLeadership ChangesRegulation FDExhibits & Filings

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

Filed May 8, 2025For Securities:WDC

Summary

Western Digital Corporation (WDC) has announced a significant leadership change with the appointment of Kris Sennesael as its new Executive Vice President and Chief Financial Officer, effective May 12, 2025. Mr. Sennesael brings a wealth of experience from his previous roles as CFO at Skyworks Solutions, Inc. and Enphase Energy, Inc., indicating a strategic move to leverage seasoned financial leadership. This appointment is a key event for investors, as the CFO plays a crucial role in financial strategy, investor relations, and overall corporate governance. The compensation package for Mr. Sennesael includes a substantial base salary, bonus opportunity, a significant signing bonus, and a multi-year equity award totaling $10 million, with an additional potential award for fiscal year 2026. This structure suggests the company's commitment to attracting and retaining top talent, as well as aligning executive incentives with long-term value creation. Investors will be keen to observe how Mr. Sennesael's financial acumen will influence WDC's future performance and strategic direction.

Key Highlights

  • 1Kris Sennesael appointed Executive Vice President and Chief Financial Officer, effective May 12, 2025.
  • 2Mr. Sennesael has prior CFO experience at Skyworks Solutions, Inc. and Enphase Energy, Inc.
  • 3Annual base salary of $715,000 and a target bonus opportunity of 100% of base salary.
  • 4Receives a $2,000,000 signing bonus, subject to repayment under certain termination conditions.
  • 5Awarded a $10,000,000 sign-on equity grant (80% RSUs, 20% PSUs) with a staggered vesting schedule through May 2028.
  • 6Eligible for a potential $5,250,000 annual equity award for fiscal year 2026.
  • 7No disclosed arrangements or family relationships that would impact his appointment.

Frequently Asked Questions

Kris Sennesael has been appointed as the new Executive Vice President and Chief Financial Officer of Western Digital Corp, effective May 12, 2025.

Mr. Sennesael served as Chief Financial Officer at Skyworks Solutions, Inc. from 2016 to May 2025, and previously as CFO at Enphase Energy, Inc. from 2012 to 2016. He also held CFO roles at Standard Microsystems Corporation and various financial positions at ON Semiconductor Corp. and AMI Semiconductor, Inc.

Mr. Sennesael will receive an annual base salary of $715,000, a target bonus of 100% of his base salary, a $2,000,000 signing bonus, and a $10,000,000 sign-on equity award comprising RSUs and PSUs with staggered vesting. He is also eligible for an annual equity award for fiscal year 2026 valued at approximately $5,250,000.

Yes, the $2,000,000 signing bonus is subject to repayment if Mr. Sennesael's employment is terminated before the two-year anniversary of the payment date, unless the Company terminates his employment without 'Cause' as defined in the Company’s Executive Severance Plan.