Hitachi Hard Drive Business Appoints New CFO
Posted: Tue Sep 18, 2007 8:53 am
Hitachi Hard Drive Business Appoints New CFO for Accelerated Transformation
Industry Veteran Brings Expertise in Implementing Strong Financial Controls and Operational Efficiencies
Industry Veteran Brings Expertise in Implementing Strong Financial Controls and Operational Efficiencies
SAN JOSE, Calif. -- Sep. 18, 2007 Hitachi Global Storage Technologies (Hitachi GST) today announced the appointment of Steve Milligan as chief financial officer. His near-term task will be to accelerate Hitachi GST's plans for achieving sustained profitability. Milligan was most recently senior vice president and CFO for Western Digital Corp.
"We are firmly committed to establishing financial health for Hitachi GST and have recruited a team of HDD industry experts to achieve this. Steve Milligan is now an integral part of this team, whose primary focus is to put Hitachi GST on track for business excellence and sustained profitability," said Hiroaki Nakanishi, chief executive officer, Hitachi Global Storage Technologies.
Milligan brings a unique combination of experiences to help advance Hitachi GST's business transformation efforts:
-- A solid understanding of the hard drive business from inside and outside the industry;
-- Process, financial and operational knowledge that can yield gains in high-volume, low-cost manufacturing businesses;
-- Demonstrated success in business combinations and related integration;
-- Global experience with large multinational companies coupled with a successful track record of re-engineering financial controls.
Before Western Digital, Milligan worked for Dell Inc. from 1997 to 2002 in financial and accounting roles of increasing responsibility.
Milligan's hard-drive roots trace back to his early experience at Price Waterhouse, where he worked for 12 years. At Price Waterhouse, he was responsible for auditing IBM's hard disk drive business among others. His experience with IBM and Dell also helped Milligan develop a deep understanding of the PC industry -- a valuable asset as the PC industry represents nearly 70 percent of overall hard-drive consumption.
About Hitachi Global Storage Technologies
Hitachi Global Storage Technologies develops advanced hard disk drives to store and preserve the world's valued data. Founded by the pioneers of hard drives, Hitachi GST enables users to fully engage in the digital lifestyle by providing high-value, high-capacity storage in formats suitable for the office, in the home or on the road. With vertically-integrated research, design and manufacturing capabilities, Hitachi GST delivers leadership technology and quality to its global customer base.
With approximately 33,000 employees worldwide, Hitachi GST offers a comprehensive range of hard drive products for desktop computers, high-performance storage systems and servers, notebooks and consumer devices. For more information, please visit the company's website at http://www.hitachigst.com.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE:HIT) (TOKYO:6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 384,000 employees worldwide. Fiscal 2006 (ended March 31, 2007) consolidated revenues totaled 10,247 billion yen ($86.8 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.