Seagate replaces CEO
Seagate has startlingly and suddenly replaced its long-serving CEO Bill Watkins with chairman Stephen Luczo. It's also lost its chief operating officer, indicating turmoil at the top levels in the company. Luczo continues as chairman of the board, possibly indicating that being CEO is a temporary appointment. He'll agree with …
This sort of musical chairs is typically accompanied by firmly reduced earnings reports (big write-offs etc), so the "new team" can report a "successful turnaround" 18 months to two years later. It's not working out for Dell though, who made a similar pattern two years ago.
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