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Western Digital CEO Milligan Announces Retirement, Stock Drops

Western Digital CEO Milligan Announces Retirement, Stock Drops

(Bloomberg) -- Western Digital Corp. Chief Executive Officer Steve Milligan, who led the company’s attempt to reshape the computer data-storage industry, has announced he will retire.

Milligan will continue in his post until the company finds a successor, Western Digital said Wednesday in a statement. He has been the San Jose, California-based company’s top executive since 2013. Western Digital’s stock dropped more than 10% in extended trading after the announcement.

The outgoing executive led the company’s attempt to transform itself as the computer industry moved away from its complete reliance on hard disk storage. He led the acquisition of computer chipmaker SanDisk Corp. and a number of deals that reshaped the industry. Milligan also pushed Western Digital’s failed attempt in 2017 to take control of a joint venture partnership with Toshiba Corp.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net

To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Molly Schuetz

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