Seagate Hires New CFO
In the wake of disappointing Q2 '98 financial results, Seagate Technology (Scotts Valley, CA) has promoted Charles Pope to the position of senior VP of Finance and CFO. Pope will report to Donald Waite, who retains the roles of executive VP and CAO (Chief Administrative Officer). Pope was previously senior VP of Seagate's Storage Products division, and has been with the company since 1985, when he joined the company through its acquisition of Grenex. Pope takes over the financial reigns at Seagate, which posted far less Q2 revenue than it had anticipated. Seagate has announced that it will absorb restructuring and other one-time charges of more than $300 million in order to align worldwide operations with current market conditions.