Western Digital provides update on separation, appoints executive leadership

Western Digital provided an update on its previously announced plan to separate into two independent, publicly traded companies. On track for the second half of calendar year 2024, progress towards the completion of the separation is underway with transactional projects including global legal entity establishment, customer and supplier contract transfers, final stage preparation for government filings, and initial executive leadership appointments for both HDD and Flash companies post-separation. Announced on October 30, 2023, Western Digital plans to separate its HDD and Flash businesses, creating two independent, public companies with market-specific, strategic focus. In the current phase of its separation process, the company is making progress in a broad scope of projects critical to completing the transaction as scheduled. Currently, Western Digital’s separation teams are establishing legal entities in the 18 countries where operations are located, preparing independent company financial models, finishing final preparations for SEC and IRS filings, conducting a contract assignment process for global customers and suppliers, and designing company-wide organizational structures for both companies. Establishing the executive leadership team for the Flash spinoff company also is progressing with Goeckeler today appointed CEO Designate. Irving Tan, currently Executive Vice President, Global Operations at Western Digital, will step into the CEO role for the remaining standalone HDD company to continue operating as Western Digital. Western Digital will continue to provide updates throughout the separation process as key projects progress.