Stephen D. Milligan is the former CEO of Western Digital, one of the leading storage solutions companies. He took the helm on January 2, 2013, following his roles as President and Chief Executive Officer of Hitachi Global Storage Technologies, which...

Stephen D. Milligan is the former CEO of Western Digital, one of the leading storage solutions companies. He took the helm on January 2, 2013, following his roles as President and Chief Executive Officer of Hitachi Global Storage Technologies, which Western Digital acquired. He has a strong background in finance, holding a Bachelor’s degree in Accounting from The Ohio State University. Milligan has a history of working in significant financial positions, including Chief Financial Officer at both Western Digital and HGST. During his time as CEO, Western Digital saw considerable growth and change in a challenging market landscape. Milligan retired in March 2020 after over seven years of leadership. His salary peaked at $12.87 million in 2018, which included a vast amount tied to stock vesting. Interestingly, in 2019, he reported substantial insider trading holdings, with values fluctuating between $18.28 million and $31.16 million monthly. After transitioning out of the CEO role, he served in an advisory capacity until September 2020. His leadership style focused on aligning executive compensation with shareholder interests, reflecting a long-term vision for value creation.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Western Digital CEOs

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Stephen D. Milligan

Ex-CEO of Western Digital

Education

Bachelor of Science in Accounting from The Ohio State University

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Technology

Born

February 1, 1963 - 62 years ago

CEO of Western Digital for

7 years 11 months (Jan 2013 - Jan 2021)

Previous Experience

President and CEO of HGST; served in various financial and executive roles at Western Digital and HGST.

Rivals

Competitors/colleagues of Stephen D. Milligan

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Gary E. Dickerson

CEO of Applied Materials

2023 Compensation

Stock

$40.73M

Salary

$1.03M

Bonus

$1.63M

Other

$241.98K

Total Holdings

$259.00M

M

Sanjay Mehrotra

CEO of Micron Technology

2023 Compensation

Stock

$21.15M

Salary

$1.26M

Bonus

$0.00

Other

$271.47K

Total Holdings

$126.04M

S

William D. Mosley

CEO of Seagate Technology Holdings PLC

2023 Compensation

Stock

$0.00

Salary

$676.93K

Bonus

$0.00

Other

$7.40K

Total Holdings

$62.80M

M

John T.C. Lee

CEO of MKS Instruments

2023 Compensation

Stock

$0.00

Salary

$950.00K

Bonus

$1.02M

Other

$35.29K

Total Holdings

$9.20M

K

Richard P. Wallace

CEO of KLA Corporation

2022 Compensation

Stock

$46.42M

Salary

$997.12K

Bonus

$2.95M

Other

$1.32M

Total Holdings

$63.76M

Holdings

See how much did Stephen D. Milligan make over time.

During his tenure at Western Digital, Stephen D. Milligan managed significant stock holdings. His values fluctuated notably, reaching a high of $31.16 million in January 2020 and tracking down to $18.28 million by August of the same year. The increases...

During his tenure at Western Digital, Stephen D. Milligan managed significant stock holdings. His values fluctuated notably, reaching a high of $31.16 million in January 2020 and tracking down to $18.28 million by August of the same year. The increases and decreases in his holdings highlight the dynamic nature of stock performance in tech. By March 2021, his overall portfolio value was concentrated heavily in Western Digital stock, reflecting both his commitment and the company's market performance. His executive decisions during this time were aligned with maximizing long-term shareholder value, evident in his strategic choices and vested interests.

Mar 17, 2025

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shares

WDC @ $44.75

Total Stock Sold

$54.76M

WDC

$54.76M

629,650 WDC shares

What if they kept their stock?

If Stephen D. Milligan didn't sell their stock, today they would have:
Extra WDC629,650 shares worth $28.55M.
This is -47.87% and $26.21M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Stephen D. Milligan.

WDC

$804.39K

WDC at $68.26/share

Jan 7, 2020

Sale

WDC

146,604 shares

WDC

Sep 4, 2019

Received

WDC

75,853 shares

WDC

Aug 30, 2018

Received

WDC

248,124 shares

WDC

Jul 25, 2018

Received

WDC

$1.34M

WDC at $80.94/share

May 14, 2018

Sale

WDC

$5.31M

WDC at $99.74/share

Mar 9, 2018

Sale

WDC

$2.19M

WDC at $94.49/share

Mar 7, 2018

Sale

WDC

$1.39M

WDC at $83.91/share

Feb 5, 2018

Sale

WDC

$8.04M

WDC at $88.59/share

Jan 29, 2018

Sale

WDC

55,445 shares

WDC

Aug 2, 2017

Received

Compensation History

See how much did Stephen D. Milligan make over time.

Stephen D. Milligan's compensation as CEO saw significant variation throughout his tenure at Western Digital. In 2018, he earned a total compensation of $12.87 million, a culmination of a $1.25 million salary, a massive $11.6 million in vested stock, and additional benefits worth around $15,292. His stock-based compensation reflected the company's performance metrics and was primarily tied to long-term growth goals. Over the years, his total compensation varied, with amounts ranging from just over $1 million in earlier years to nearly $17 million in the previous fiscal years. The structure of his pay was designed to ensure alignment with the company's interests and shareholder gains, showing a clear strategy to create lasting value for investors.

Year

2018

Total Compensation

$12.87M

Salary

$1.25M

Board Justification

The compensation philosophy is based on aligning executive compensation with performance metrics that drive long-term value creation for stockholders.

Bonus

$0.00

Board Justification

No short-term incentive payout due to performance metrics not being met in fiscal 2019.

Other

$15.29K

Board Justification

Includes 401(k) matching contributions and other benefits.

Restricted Stock

$11.60M(11.6M RSU)

Board Justification

Value of stock awards that vested in fiscal 2019, including performance-based and time-based equity awards.

Performance Metrics

Non-GAAP net income and relative total stockholder return metrics were used to determine performance-based compensation.

Other Western Digital CEOs

Here are other CEOs of Western Digital

John F. Coyne

Ex-CEO of Western Digital

January 2007 - January 2013

David Goeckeler

CEO of Western Digital

January 2021 - Present