Stephen J. Luczo Retires from Seagate Technology’s Board of Directors

Rhea-AI Summary

Seagate Technology Holdings (NASDAQ: STX) announced the retirement of Stephen J. Luczo from its Board of Directors, effective October 20, 2021. Luczo has been affiliated with Seagate for 28 years, serving as Board Chair from 2002 to 2020 and holding various leadership roles including CEO. His tenure is recognized for significant contributions to Seagate's technological advancements, bolstering its position as an industry leader in mass-data storage. The company appreciates Luczo's dedication and leadership during his time at the helm.

Positive

• Stephen Luczo's long tenure provided stability and industry expertise.
• His leadership was instrumental in Seagate's technological advancements.

Negative

• Luczo's retirement may impact continuity in strategic vision and leadership.

FREMONT, Calif.--(BUSINESS WIRE)-- Seagate Technology Holdings plc (NASDAQ: STX), a world leader in mass-data storage infrastructure solutions, today announced the retirement of Stephen J. Luczo from the company’s Board of Directors effective October 20, 2021. He served as the company's Board Chair from 2002 to 2020 and has served on Seagate’s board since 1998.

"It's been an honor and a complete pleasure to be deeply involved with Seagate for the last 28 years," said Steve Luczo. "I thank all of the Seagate employees, board members, as well as our customers and suppliers for your amazing support and friendship over the years."

Mr. Luczo joined Seagate Technology in October 1993 as Senior Vice President of Corporate Development. In September 1997, he was promoted to the position of President and COO and became CEO and a member of the board of directors in July 1998. After resigning as CEO in July 2004, Mr. Luczo remained on as Chair of the board of directors. He was later again appointed as Seagate’s President and CEO in 2009, serving in the role until 2017.

"On behalf of the board of directors, I would like to extend our deepest gratitude to Steve for his many contributions to Seagate over his years as CEO and chairman of the board," said Mike Cannon, board chair since July 2020. "Steve's steadfast commitment in maintaining strong investments in technological advancements is a primary reason Seagate is the industry leader today, as well as being very well positioned to meet the future storage needs of the rapidly growing data economy."

About Seagate Technology

Seagate Technology crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered mass-data storage and management solutions with a focus on sustainable partnerships. A global technology leader for more than 40 years, the company has shipped over three billion terabytes of data capacity. Learn more about Seagate by visiting www.seagate.com or following us on Twitter, Facebook, LinkedIn, YouTube, and subscribing to our blog.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005287/en/

Greg Belloni (415) 235-9092

gregory.belloni@seagate.com

Source: Seagate Technology Holdings plc

FAQ

Why did Stephen J. Luczo retire from Seagate Technology?

Stephen J. Luczo announced his retirement to conclude a 28-year affiliation with Seagate Technology, during which he contributed significantly to the company's growth and technological advancements.

What impact will Luczo's retirement have on Seagate Technology?

Luczo's retirement could lead to challenges in maintaining strategic continuity and vision, given his extensive experience and influence within the company.

When did Stephen J. Luczo's retirement become effective?

Luczo's retirement from the Board of Directors became effective on October 20, 2021.

What roles did Stephen Luczo hold at Seagate Technology?

Luczo held multiple positions including CEO, President, and Board Chair during his nearly three-decade career with Seagate Technology.