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Finance and Chief Financial Officer from December 2001 to May 2004 and as Senior Vice President, Finance and
Chief Financial Officer from May 2004 to May 2007. Mr. Leyden previously served in various worldwide finance,
manufacturing and information technology capacities with us from 1983 to December 2000.
Mr. Long, 47, was appointed as our Executive Vice President, Strategy & Corporate Development, effective as of
February 2013. Prior to that, from March 2012 to February 2013, he served in various consulting capacities for WDC.
Prior to that, from July 2010 to March 2012, he served as senior vice president, strategy and corporate development at
Hitachi GST, which was acquired by us in March 2012. From August 2005 to July 2010, he served as managing
director of VisionPoint Capital, where he provided merger and acquisition and corporate finance services to a range of
technology companies, including Fabrik, Inc., which was acquired by Hitachi GST in April 2009. Prior to that,
Mr. Long served as a senior executive with both public and private venture-backed technology companies and was an
investment banker with Credit Suisse First Boston and Deutsche Bank Securities. Among his duties as our Executive
Vice President, Strategy & Corporate Development, Mr. Long also leads Western Digital Capital, our wholly owned
strategic investment fund.
Mr. Ray, 46, was appointed as our Senior Vice President, General Counsel and Secretary as of April 5, 2011.
From October 2010 to April 2011, Mr. Ray served as our Vice President, General Counsel and Secretary. From Sep-
tember 2000 to October 2010, Mr. Ray served in a number of positions in our legal department, ranging from Senior
Counsel to Vice President, Legal Services. From September 1998 to September 2000, Mr. Ray served as corporate
counsel for Wynn’s International, Inc. Prior to that, he served as a judicial clerk to the U.S. District Court, Central
District of California and practiced law at O’Melveny & Myers LLP.
Item 1A. Risk Factors
The business, financial condition and operating results of the Company can be affected by a number of factors,
whether currently known or unknown, including but not limited to those described below, any one or more of which
could, directly or indirectly, cause the Company’s actual results of operations and financial condition to vary materi-
ally from past, or from anticipated future, results of operations and financial condition. Any of these factors, in whole
or in part, could materially and adversely affect the Company’s business, financial condition, results of operations or
the market price of its common stock.
If we fail to realize the anticipated benefits from our acquisition of HGST on a timely basis, or at all, our business and
financial condition may be adversely affected.
In connection with obtaining the regulatory approvals required to complete the acquisition of HGST, we agreed
to certain conditions required by the Ministry of Commerce of the People’s Republic of China (“MOFCOM”), includ-
ing adopting measures to keep HGST as an independent competitor until MOFCOM agrees otherwise (with the
minimum period being two years from the March 8, 2012 closing date of the acquisition). We worked closely with
MOFCOM to finalize an operations plan that outlines in more detail the conditions of the competitive requirement.
Compliance with these measures has affected, and may continue to affect, our business and financial conditions in the
following ways:
‰limits our ability to integrate the businesses of our HGST and WD subsidiaries (and we do not expect to
achieve significant operating expense synergies while the hold separate condition continues to exist);
‰has caused, and could cause further, difficulties in retaining key employees and delays or uncertainties in mak-
ing decisions about the combined business;
‰has resulted in, and could result in additional, significant costs (including higher capital expenditures relative
to our competitors as a result of maintaining separate functions in several areas); and
‰has required, and could require additional, changes in business practices.
In March 2014, we submitted an application to MOFCOM requesting that the regulatory restrictions be lifted.
However, we cannot predict whether or when these restrictions will be wholly or partially lifted or whether we will be
able to realize the anticipated benefits of our acquisition of HGST even if the restrictions are wholly or partially lifted.
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