NEW YORK: Seagate Technology Inc chairman Stephen Luczo would be the CEO of the company, the computer storage manufacturer said in a statement.

According to the company statement, Stephen Luczo would immediately take over the role of chief executive, succeeding Bill Watkins.

Luczo will continue to serve as chairman of the company’s board of directors, a position he has held since 2002.

Seagate, the top hard-disk drive maker in an industry that has felt the brunt of the global economic downturn as demand for personal computers slows, said that Luczo and Watkins will “determine what role, if any, Mr. Watkins will have at the company going forward.”

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