Western Digital Announces Plan To Separate Into Two Independent, Publicly Traded Companies. On Track For The Second Half Of Calendar Year 2024; Company Appoints Key Executive Leaders For Flash And HDD Companies
Portfolio Pulse from Benzinga Newsdesk
Western Digital Corp. (NASDAQ:WDC) is progressing with its plan to separate into two independent, publicly traded companies, focusing on HDD and Flash businesses, by the second half of 2024. The company has made significant advancements in preparation, including establishing legal entities, transferring contracts, and appointing executive leaders for both future companies. David Goeckeler is appointed as CEO Designate for the Flash company, while Irving Tan will become CEO of the standalone HDD company, continuing as Western Digital.
March 05, 2024 | 1:31 pm
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Western Digital's plan to split into two entities by 2024, focusing on HDD and Flash, is advancing with significant preparatory steps and leadership appointments.
The separation of Western Digital into two focused entities is likely to unlock shareholder value by allowing each company to concentrate on its core market and innovation. The appointment of experienced leaders and the progress in preparatory steps signal a well-planned and executed strategy, which could positively impact investor sentiment and the stock price in the short term.
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