The company said it provided an update on March 5, 2024 on its plan to separate its HDD and Flash businesses into two independent, publicly traded companies, and said the separation remains on track for the second half of calendar 2024.

1. 01

   The company said it provided an update on March 5, 2024 on its plan to separate its HDD and Flash businesses into two independent, publicly traded companies, and said the separation remains on track for the second half of calendar 2024.

2. 02

   Western Digital said its separation teams are establishing legal entities in 18 countries where it operates, preparing independent company financial models, finishing preparations for SEC and IRS filings, and conducting contract assignments for global customers and suppliers.

3. 03

   Western Digital said it appointed David Goeckeler as CEO Designate of the Flash spinoff company, and that Irving Tan, currently Executive Vice President, Global Operations, will become CEO of the standalone HDD company that will continue to operate as Western Digital.

4. 04

   The company said the executive appointments will take effect only upon completion of the separation, which is subject to Board approval and other customary conditions. It said additional executive leaders for both companies will be named at a later date.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.