On March 6th, Western Digital announced that its plan to split into two independently operated, publicly traded companies is progressing smoothly and is expected to be completed as scheduled in the second half of 2024.
On October 30, 2023, Western Digital unveiled the split plan, dividing its HDD mechanical hard drive business and its Flash memory and SSD solid-state drive business into two separate entities, each becoming a new company.
Western Digital stated that through this split, it aims to drive deeper technological innovation and product development in both major businesses, focus on their respective growth opportunities, solidify market leadership positions, enhance operational efficiency, and deliver better returns for investors and shareholders.
Currently, Western Digital has established new legal entities in 18 countries and regions, is preparing independent operational structures and financial models, is nearing completion of final regulatory filings, and is reallocating global customers and suppliers.
A new executive team is also being assembled, with Western Digital CEO David Goeckeler set to become the CEO of the new Flash memory business company, while Irving Tan, Western Digital's Executive Vice President of Global Operations, will assume the role of CEO for the new mechanical hard drive business company.
