Seagate Technology Chairman Stephen Luczo is now serving as its president and CEO. Luczo, who served as the CEO of Seagate from 1998 to 2004, is replacing Bill Watkins, reports CNET News.
Watkins has been with the company for 12 years and plans to advise Luczo to ensure a smooth transition. It has still yet to be determined if Watkins will serve in any role with the company, following the changeover.
The CEO switch comes at a tricky time, says this ZDNet post. Watkins indicated at CES that the company had a poor December and that layoffs were likely. According to Reuters, Seagate is planning to cut 10 percent of its work force and has lowered its January outlook.