Seagate Technology (NASDAQ: STX), a world leader in storage solutions,
today announced that David H. Morton, Jr., a long-time Seagate finance
executive, has been promoted to executive vice president and chief
financial officer. Patrick O’Malley, Seagate’s current chief financial
officer, will remain with the company as executive vice president with
responsibility for a broad range of strategic and operational issues.
Both appointments are effective immediately and report to Seagate’s
chairman and chief executive officer, Steve Luczo.
“Dave has been a meaningful contributor at Seagate for the last twenty
years and has significant experience in supporting our business model
and the financial governance of our operations,” said Steve Luczo,
Seagate’s chairman and chief executive officer. “Most recently he has
successfully managed the operational aspects of our finance
organization, including leading our cash management and corporate
finance activities. Dave’s background makes him well suited for
Seagate’s evolving storage technology business and I look forward to his
continued contributions and leadership.”
Morton most recently served as Seagate’s senior vice president,
treasurer and principal accounting officer responsible for overseeing
Seagate’s corporate finance, treasury and accounting activities. He
joined Seagate in 1995 and over the last twenty years has held multiple
leadership roles in both the US and Asia, each increasing in scope
within the Company’s global finance organization including corporate
financial planning, revenue consolidation, manufacturing, pricing, and
sales operations.
“Pat has deep expertise in Seagate’s business and I am pleased that he
will remain with the company in this strategic role,” continued Luczo.
“As we continue to effectively leverage and invest in our storage
technology portfolio to provide a broader solution set for customers,
Pat’s industry knowledge and insights will help us to drive innovations
and efficiencies across our business.”
O’Malley has worked at Seagate since 1988 and assumed the role of
executive vice president and chief financial officer in 2008. In his
previous role of senior vice president finance & treasurer, he was
responsible for corporate accounting, reporting, treasury, credit &
collections and risk management along with corporate financial planning
& analysis and support for the business units, sales & other functions.
About Seagate
Seagate creates space for the human experience by innovating how data is
stored, shared and used. Learn more at www.seagate.com.
©2015 Seagate Technology LLC. All rights reserved. Seagate,
Seagate Technology, and the Seagate logo are trademarks or registered
trademarks of Seagate Technology LLC in the United States and/or other
countries.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, each as amended, including, in
particular, statements about our plans, strategies and prospects and
estimates of industry growth for the fiscal quarter January 1, 2016 and
the fiscal year ending July 1, 2016 and beyond. These statements
identify prospective information and may include words such as
“expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts,” “projects”, “continue to”, and similar expressions. These
forward-looking statements are based on information available to the
Company as of the date of this press release and are based on
management’s current views and assumptions. These forward-looking
statements are conditioned upon and also involve a number of known and
unknown risks, uncertainties, and other factors that could cause actual
results, performance or events to differ materially from those
anticipated by these forward-looking statements. Such risks,
uncertainties, and other factors may be beyond the Company’s control and
may pose a risk to the Company’s operating and financial condition. Such
risks and uncertainties include, but are not limited to: the uncertainty
in global economic conditions; the impact of the variable demand and
adverse pricing environment for disk drives, particularly in view of
current business and economic conditions; the Company’s ability to
successfully qualify, manufacture and sell its disk drive products in
increasing volumes on a cost-effective basis and with acceptable
quality, particularly the new disk drive products with lower cost
structures; the impact of competitive product announcements; currency
fluctuations that may impact the Company’s margins and international
sales; possible excess industry supply with respect to particular disk
drive products; disruptions to our supply chain or production
capabilities; unexpected advances in competing technologies; the
development and introduction of products based on new technologies and
expansion into new data storage markets; and the Company’s ability to
achieve projected cost savings in connection with restructuring plans
and fluctuations in interest rates. Information concerning risks,
uncertainties and other factors that could cause results to differ
materially from the expectations described in this press release is
contained in the Company’s Annual Report on Form 10-K filed with the
U.S. Securities and Exchange Commission on August 11, 2015, the “Risk
Factors” section of which is incorporated into this press release by
reference, and other documents filed with or furnished to the Securities
and Exchange Commission. These forward-looking statements should not be
relied upon as representing the Company’s views as of any subsequent
date and the Company undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date they were
made.
The inclusion of Seagate’s website address in this press release is
intended to be an inactive textual reference only and not an active
hyperlink. The information contained in, or that can be accessed
through, Seagate’s website is not part of this press release.
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