Seagate Appoints Prat Bhatt to the Board of Directors

Rhea-AI Summary

Seagate Technology (NASDAQ: STX) has appointed Pratik "Prat" Bhatt to its Board of Directors and Audit and Finance Committee, effective December 24, 2020. Bhatt, currently the Chief Accounting Officer at Cisco, brings over 20 years of financial leadership experience. His expertise in finance strategy, risk management, and capital allocation is expected to provide valuable insights to Seagate. The appointment aims to strengthen the board's capabilities in navigating the evolving data storage industry.

Positive

• Appointment of Pratik Bhatt adds significant financial expertise to the Board.
• Bhatt's extensive experience at Cisco and other firms may enhance strategic financial decision-making.

Negative

• Concerns about continuity and experience gaps in the board's overall expertise could arise.
• -

Seagate Technology plc (NASDAQ: STX), a world leader in data storage and management solutions, today announced that Pratik “Prat” Bhatt has been appointed to the company’s Board of Directors and to serve on the Audit and Finance Committee of the Board, effective December 24, 2020.

“I am very pleased to welcome Prat to Seagate’s Board of Directors,” said Mike Cannon, Seagate’s Board Chair. “As a technology industry veteran with extensive global financial experience, his insights will be hugely valuable to Seagate and the Board.”

Mr. Bhatt is an accomplished executive currently serving as Senior Vice President, Chief Accounting Officer and Corporate Controller of Cisco Systems, Inc., a worldwide leader in technology that powers the Internet. During his 20-year career with Cisco, Mr. Bhatt has held multiple finance leadership positions and successfully led key finance strategy initiatives spanning operations, finance systems, risk management, tax and capital allocation. Prior to joining Cisco, Mr. Bhatt served as a financial executive with Kaiser Permanente and with Ernst & Young. He is also chair of the audit committee of Cisco Systems Foundation.

Mr. Bhatt holds a bachelor’s degree in economics from the University of California, Santa Cruz and a master’s degree in accounting from the University of Southern California.

About Seagate

Seagate crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered data management solutions with a focus on sustainable partnerships. Learn more about Seagate by visiting www.seagate.com or following us on Twitter, Facebook, LinkedIn, YouTube, and subscribing to our blog.

© 2020 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005050/en/

FAQ

Who is the new member of Seagate's Board of Directors as of December 24, 2020?

Pratik "Prat" Bhatt has been appointed to Seagate's Board of Directors.

What role will Pratik Bhatt serve on Seagate's Board?

He will serve on the Audit and Finance Committee.

What is Pratik Bhatt’s background in finance?

Bhatt has over 20 years of experience in financial leadership roles, currently at Cisco as Chief Accounting Officer.

How might Pratik Bhatt's appointment impact Seagate Technology?

His expertise is expected to enhance the board's financial decision-making and overall strategic direction.