Seagate Technology Holdings Appoints New Independent Director: Tom Szlosek

Seagate Technology Holdings (STX) has appointed Thomas Szlosek as a new independent director, effective August 23, 2025. Szlosek will serve on the audit and finance committee and will be recognized as an independent director under Nasdaq's listing rules. He will hold his position until the next annual general meeting of shareholders and will receive a cash retainer of $100,000 and a restricted share unit grant valued at $275,000. The appointment underscores Seagate's commitment to strengthening its governance and financial oversight.

Seagate Technology Holdings (STX) has appointed Thomas Szlosek as a new independent director, effective August 23, 2025. Szlosek will serve on the audit and finance committee and will be recognized as an independent director under Nasdaq's listing rules. He will hold his position until the next annual general meeting of shareholders and will receive a cash retainer of $100,000 and a restricted share unit grant valued at $275,000. The appointment underscores Seagate's commitment to strengthening its governance and financial oversight.

Szlosek brings extensive financial leadership experience, having served as CFO at AutoNation and with board experience in transportation and storage solutions. His appointment is expected to bolster Seagate's financial and governance expertise, particularly in the areas of audit and finance. The company's focus on cloud-driven storage demand continues to be a significant growth driver, with recent strong performance highlighted by record Nearline drive shipments in the June quarter.

The appointment of Szlosek is presented as a standard board refreshment, with compensation terms mirroring existing non-employee director arrangements. Seagate and Szlosek will execute previously filed indemnification agreements to manage director liability. The filing explicitly confirms no related-party interests, which simplifies governance review.

Despite the appointment, investors should remain aware of the significant increase in corporate tax rates forecast for fiscal 2026, which could pressure future profitability. Seagate Technology Holdings is projected to reach $12.0 billion in revenue and $2.5 billion in earnings by 2028, based on an annual revenue growth rate of 9.5% and a $1.0 billion increase in earnings from the current $1.5 billion.

References:
[1] https://www.stocktitan.net/sec-filings/STX/8-k-seagate-technology-holdings-plc-reports-material-event-5624e300c1f1.html
[2] https://simplywall.st/stocks/us/tech/nasdaq-stx/seagate-technology-holdings/news/what-seagate-technology-holdings-stxs-appointment-of-finance