Michael Cordano President, Western Digital

Here is a abstract of a SEC filing published by Western Digital Corporation:

On April 1, 2020, the firm reorganized its management structure to have all business, operations, engineering, sales and administrative functions report to CEO, David V. Goeckeler, who joined on March 9, 2020. This flatter management structure is intended to improve organizational effectiveness, information flow and speed of decision making.

As part of this organizational change, Michael D. Cordano, president and COO, is transitioning to a new role as president, Western Digital Technologies, Inc. He continues to report to Goeckeler, and his existing compensation and benefits remain unchanged, other than the retention agreement described below.

The company also entered into a retention agreement with Cordano to incentivize him to remain employed in his new role. Pursuant to the retention agreement, he will receive a cash lump-sum payment of $75,000, subject to his continued employment through July 15, 2020, and a cash lump-sum payment of $150,000, subject to his continued employment through September 15, 2020. He will also remain eligible to receive Tier I severance benefits under the company’s executive severance plan and change of control severance plan.

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