In a surprise move, the Scotts Valley-based company announced Monday that William Watkins, 56, Seagate's chief executive since 2004, and Dave Wickersham, 52, the president and chief operating officer, had both left the company, effective immediately. Seagate declined to make either executive available for comment.Source: AP
The company also announced that it plans to cut 10 percent of its 8,000 U.S.-based workers. It has 53,000 workers worldwide.
A familiar face will fill the CEO slot. Stephen Luczo, 51, a former investment banker who served as Seagate's CEO from 1998 until 2004 amid a wrenching restructuring, will have to engineer another big turnaround to get the company back on track.
Seagate fires CEO and 800 employees
Posted on Tuesday, January 13 2009 @ 20:06 CET by Thomas De Maesschalck