Stephen D. Milligan
Good morning. Certainly an honor to be here. What I'm going to is I'm going to talk a little bit about what we're going to be doing as a company going forward. First off, I'm certainly honored with the privilege of in January being able to succeed John. John has absolutely done a fantastic job building this company. And some of the points that we will get at is that we have assembled, in our view, an extremely powerful platform in a number of different ways to address the challenges that we're dealing with as an industry. A very important point is that we are arguably at an inflection point, not only for ourselves, but within the broader landscape of what we are -- the environment that we exist in. And so we're going to talk about -- I mean, change to us represents opportunity. And that is really the essence of John's setup, is that Western Digital, not only Western Digital but the heritage of HGST, is that change is our friend, and then we've got to figure out what we're doing to address the challenges and the opportunities that, that presents. So let me get into some of the details.
So I'm not going to give you a history lesson. You're all well aware of what's happened over the last several years in terms of the evolution of the computing market. Some of the key points here really are that, number 1, it's all about data. And we know that as it relates to our personal lives. We know that as it relates to our professional lives. More and more of what we do, more and more of what we touch is becoming digital. Not only that, the devices that are either creating that content, interacting with that content, they're changing. And the needs are changing as it relates to that because of the various types of interactions with that data. The other point is that if you look at what's happened in the industry, and sometimes we forget this, but the things that we have done in the storage industry and specifically what we've done in the hard drive industry have helped enable all of these changes. We don't always talk about innovation but we have by virtue of what we've done over the last 50-plus years is innovated in a number of different ways to enable that proliferation of devices, growth in data. And given where we're at from an industry standpoint, given where we're at from a broader landscape perspective, back to the point on inflection, innovation, in our opinion, and the ability to be able to adapt as we move forward is becoming more and more important. And it's presenting for us a very unique opportunity in terms of how we're positioned from a competitive standpoint, from a value perspective, within the broader landscape to take advantage of all of those changes.