Intel vet takes the helm at Toshiba Memory Corp

There’s a new exec chairman at Toshiba Memory Corporation (TMC).

Step forward, Stacy Smith, who most recently worked at Intel as group president of manufacturing operations and sales. Other senior positions at the company include stints as CFO and CIO. In August last year Intel announced he was retiring, effective from the end of January 2018.

Stacy Smith

Toshiba said he will work closely with CEO Yasuo Naruke to provide global leadership and help steer TMC to the next phase of growth.

TMC is the company that owned Toshiba’s interest in the flash foundry joint venture with Western Digital. It was sold in June 2018 to a Bain Capital-led consortium for $18bn, with Toshiba retaining a 40 per cent interest.

It looks as if TMC has got itself a respected, steady and experienced exec chair. Let’s hope Smith gets on with Western Digital CEO Steve Milligan, who struggled with Toshiba’s Japanese executives, taking the joint venture to the brink while contesting the TMC sale to the Bain-led group, with court actions against the sale and Toshiba locking out WD employees.

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