Western Digital names new CEO as Coyne to retire
IRVINE, Calif. (AP) — Western Digital Corp.'s president will become CEO next year as the hard drive maker's current chief executive retires, the company said Monday.
John Coyne, 63, has been Western Digital's CEO since January 2007 and has worked for the Irvine, Calif., company since 1983. He will step down on Jan. 2, when Steve Milligan takes office.
Milligan, 49, will keep the title of president when he takes over as CEO and will also become a board member.
Milligan served as CEO of Hitachi Global Storage Technologies from December 2009 until Western Digital's $3.9 billion buyout of the company in March. He had worked at Western Digital before, serving as CFO from 2004 to 2007.
Western Digital has bounced back from a shortage of hard drives resulting from floods that hit factories in Thailand last year. Shares are up 35 percent in 2012.