Gianluca Romano takes charge as Seagate's executive vice president and chief financial officer

Data storage company Seagate Technology announced that Gianluca Romano has been appointed executive vice president and chief financial officer. Romano will join Seagate Jan. 7, 2019 reporting to Seagate’s chief executive officer, Dave Mosley.

Gianluca most recently served as corporate vice president, business finance & accounting at Micron Technology. Prior to that, he held executive positions at Numonyx and STMicroelectronics.

“I am pleased Gianluca Romano will be joining Seagate’s senior leadership team. Having held a number of senior finance leadership positions in the silicon/semiconductor industry, Gianluca is a good fit for Seagate. He has broad domain expertise spanning the critical corporate finance functions and extensive experience in providing operational and strategic financial leadership,” said Dave Mosley, Seagate’s chief executive officer.

“Additionally, I want to thank Seagate Senior Vice President, Kate Scolnick, for her outstanding work as interim CFO. Kate’s dedication and leadership provide for a seamless transition and her contributions are appreciated,” said Mosley.

Romano's appointment comes after Seagate's November announcement that its Board of Directors has authorized the company to repurchase up to US$2.3 billion of its outstanding ordinary shares.  

As a result of the October 2018 Authorization, Seagate currently has an aggregate authority to repurchase approximately $3 billion of its ordinary shares. Share repurchases under the October 2018 Authorization may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods.

The timing and actual number of shares repurchased will depend on a variety of factors including the ordinary share price, corporate and regulatory requirements and other market and economic conditions. The share repurchase authorization may be suspended or discontinued at any time.  

“The repurchase authorization reflects the confidence that the Board and the executive management team have in Seagate’s ability to generate cash, while still investing in innovation and growth opportunities,” said Dave Mosley, Seagate’s chief executive officer.