Western Digital Chief Financial Officer Wissam Jabre will resign on February 28, almost immediately after the completion of the separation of the company into HDD and SSD divisions. Initially, he was supposed to take the position of CFO of the hard drive division. The company said Jabre is resigning “to pursue other opportunities” and will be replaced by someone else.
Wissam Jabre / Image source: blocksandfiles.com
Western Digital published an 8K SEC report, which states that the company expects to generate approximately $4.3 billion in revenue for the second quarter of the current fiscal year. This figure was in line with earlier guidance and was 42% higher than the second quarter of the previous fiscal year. Financial results for the second quarter will be officially released on January 29.
According to Wedbush analysts, Jabre’s departure does not indicate any problems in the company’s HDD business. “We believe WD’s hard drive business is well positioned through the end of 2025,” Wedbush said in a statement. They also noted that the situation may change next year, but there are currently no signs of a decline in demand for hard drives.
Jabre joined Western Digital in 2022 after serving as CFO of Dialog Semiconductor for more than five years. Previously, he served as vice president of corporate finance at AMD. Last November, Jabre joined the board of directors of MKS Instruments, a company that supplies measurement instruments and related products to various industries, including semiconductor. Where exactly Jabre will continue his career is still unknown.