Western Digital names new CFO to drive growth

SAN JOSE, Calif. - Western Digital (NASDAQ:WDC), a leading data storage company with a market capitalization of $15.4 billion and annual revenue of $15.6 billion, has appointed Kris Sennesael as its new Chief Financial Officer, effective May 12, 2025. Sennesael brings over 25 years of financial and managerial experience in the semiconductor and technology sectors to his new role at Western Digital. According to InvestingPro data, the company has maintained strong financial health with a current ratio of 1.56 and has been profitable over the last twelve months.

The CEO of Western Digital, Irving Tan, expressed confidence in Sennesael’s ability to contribute to the company’s future, citing his hands-on leadership style and comprehensive experience in global markets. Tan anticipates that Sennesael’s expertise will be instrumental in balancing innovation and operational efficiency to enhance shareholder value. InvestingPro analysis shows positive momentum with 16 analysts revising their earnings estimates upward for the upcoming period, suggesting strong confidence in the company’s trajectory. Get access to 7 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.

In his previous position as CFO at Skyworks Solutions, Sennesael played a pivotal role in guiding strategic initiatives and scaling the business through various growth strategies. His career includes tenures as CFO at Enphase Energy and Standard Microsystems, as well as leadership roles at ON Semiconductor, AMI Semiconductor, and Alcatel Microelectronics.

At Western Digital, Sennesael will oversee the global finance organization, which encompasses finance, accounting, financial reporting, tax, treasury, internal audit, corporate real estate, and investor relations. He will report directly to CEO Irving Tan.

Western Digital is recognized for providing high-capacity, high-quality data storage solutions with a low total cost of ownership (TCO), serving a diverse clientele that includes hyperscale cloud providers, enterprise data centers, content professionals, and consumers. As a prominent player in the Technology Hardware, Storage & Peripherals industry, the company maintains healthy profitability with a gross margin of 28.6% and a P/E ratio of 9.45. The company is also committed to combating climate change and aims to develop storage technologies that support a sustainable future. Discover more detailed insights and metrics with InvestingPro’s comprehensive analysis tools.

This announcement is based on a press release statement from Western Digital. The company cautions that forward-looking statements within the press release are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These include global conditions, market volatility, competitive pressures, and other factors detailed in the company’s SEC filings, including its most recent Annual and Quarterly Reports.

In other recent news, Western Digital Corporation reported strong financial results for the third fiscal quarter of 2025, with earnings per share (EPS) of $1.36, significantly surpassing the expected $0.79. The company achieved revenues of $2.3 billion, a 31% increase year-over-year, although this fell short of some forecasts. Western Digital has provided guidance for the fourth fiscal quarter, anticipating revenues of $2.45 billion and EPS of $1.45, both above previous estimates. The company expects its gross margin to improve to 40.5% in the next quarter, driven by strong demand from AI data centers and the successful ramp-up of new high-capacity storage platforms.

In analyst updates, Rosenblatt Securities raised its price target for Western Digital shares to $53, citing the company’s record high Non-GAAP Gross Margin of 40.1% for its Hard Disk Drive products. BofA Securities also increased its price target to $62, following Western Digital’s financial results that exceeded expectations. Additionally, JPMorgan upgraded Western Digital’s stock rating to Overweight, with a new price target of $57, acknowledging the company’s separation of its NAND flash business and focus on HDD technology. Argus Research, however, lowered its price target to $65, maintaining a Buy rating due to ongoing supply chain challenges. These developments reflect the analysts’ confidence in Western Digital’s strategic initiatives and market positioning amidst global uncertainties.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.