Seagate to get new CEO

Disk-drive company Seagate Technology is to get a new CEO. The company said on Thursday that its current chief, Steve Luczo, will be replaced July 3 by Bill Watkins, who now serves as president and chief operating officer. Watkins and Luzco will retain their respective roles of president and chairman, Seagate said. Watkins has been responsible for the company's hard disk-drive operations, along with related research and development and product development groups. "The unique combination of Bill's industry knowledge, strength of character and determination are essential attributes which will enable Seagate to continue its industry leadership in a world in which digital storage is becoming increasingly important," Luczo said in a statement.

Seagate, which competes with Maxtor, Hitachi Global Storage Technologies and others, said two new members have been elected to its board and that board member David Bonderman of the Texas Pacific Group had resigned, effective today.