Shankar Arumugavelu
Seagate Technology HoldingsAbout Shankar Arumugavelu
Independent director at Seagate Technology Holdings plc (STX) since 2021; age 54. Currently Executive Vice President and President of Global Services at Verizon; prior roles include Global CIO and senior CIO positions, bringing deep expertise in technology, cybersecurity, data/analytics, AI, and global operations . He is classified independent under Nasdaq rules and serves on the Audit & Finance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Verizon Communications Inc. | Executive Vice President & President of Global Services | Jul 2024 – Present | Leads central support services (IT, digital, data, analytics & AI, real estate, sourcing, supply chain, fleet) |
| Verizon | Senior Vice President & Global CIO | Oct 2017 – Jul 2024 | Enterprise digital transformation, scale operations |
| Verizon | SVP & CIO – VCM and Wireless | Feb 2015 – Oct 2017 | CIO responsibilities across segments |
| Verizon | SVP & CIO | Jan 2012 – Jan 2015 | Enterprise IT leadership |
| Verizon/predecessors | Various leadership roles | Feb 2002 – Jan 2012 | Operations and technology leadership |
External Roles
| Organization | Role | Board/Committee |
|---|---|---|
| Verizon Communications Inc. | EVP & President of Global Services | Executive role; not a STX committee |
| Other public company boards | None | — |
Board Governance
| Attribute | Detail |
|---|---|
| Independence status | Independent director (Nasdaq) |
| Committee assignments | Audit & Finance Committee member (not Chair) |
| Committee expertise | Audit & Finance oversight includes financial reporting, internal controls, ESG-related disclosure risks, cybersecurity, data privacy/product security, compliance/ethics |
| Board/committee meetings FY2025 | Board: 4; Audit & Finance: 9; Comp & People: 4; Nominating & Governance: 5 |
| Attendance | Each incumbent director attended ≥75% of meetings of Board and served committees in FY2025 |
| Executive sessions | Independent directors met privately at each quarterly Board meeting and all scheduled committee meetings |
| Lead independent director | Michael R. Cannon to serve as Lead Independent Director post-2025 AGM (Mosley becomes Board Chair) |
| Board independence | 91% of Board independent at FY2025 year-end |
Fixed Compensation
| Component | FY2025 Amount | Notes |
|---|---|---|
| Board cash retainer | $100,000 | Standard non-employee director retainer |
| Audit & Finance Committee member fee | $15,000 | Member fee (Chair is $35,000) |
| Total cash earned (FY2025) | $115,000 | Matches retainer + committee membership |
| Annual RSU grant (policy value) | $275,000 | RSUs sized by average closing price prior quarter; Board Chair $350,000 |
| Share award – grant-date fair value (FY2025) | $294,641 | RSUs granted Oct 19, 2024 per policy |
| RSU vesting terms | Earlier of 1-year from grant or next AGM (≥50 weeks after prior AGM); full vest on Change of Control | |
| Options (directors) | None held as of June 27, 2025 |
Performance Compensation
| Element | Status | Metrics/Weighting |
|---|---|---|
| Performance-based pay (directors) | None | Director equity is time-based RSUs; no performance metrics disclosed |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Notable executive roles outside STX | Verizon EVP/President of Global Services; prior Global CIO |
| Potential interlocks/conflicts | No related-party transactions disclosed; Company maintains related-party transaction approval policy via Nominating & Governance Committee |
Expertise & Qualifications
- Technology, cybersecurity, information systems, data/analytics, AI and infrastructure expertise; extensive global operations and digital transformation track record at Verizon .
- Board skills matrix highlights IT/data security, technology, cybersecurity, risk management, international competence among Board capabilities; Arumugavelu’s biography aligns to these domains .
Equity Ownership
| Item | Amount |
|---|---|
| Shares owned directly | 10,580 |
| RSUs vesting within 60 days of Aug 22, 2025 | 2,693 |
| Total beneficial (per proxy presentation) | 13,273; less than 1% of outstanding |
| Options | None for non-employee directors |
| Pledging/hedging | Prohibited for directors; no margin or pledging allowed |
| Ownership guideline | 4x annual Board cash retainer; all non-employee directors met guideline as of Jun 27, 2025 |
Governance Assessment
- Committee role and independence: Independent Audit & Finance member with oversight across financial reporting, internal controls, cyber/data security and compliance—positively supports board effectiveness in risk and disclosure oversight .
- Engagement and attendance: Audit & Finance met 9 times; each director met ≥75% attendance; independent directors held regular executive sessions—signals active oversight and engagement .
- Alignment: Cash/equity mix standard ($115k cash; ~$275k policy RSU) and share ownership guidelines met; hedging/pledging prohibited—supports shareholder alignment and confidence .
- Conflicts: Executive role at Verizon noted; no related-party transactions disclosed and director remains independent under Nasdaq rules; Company enforces related-party approval policy—monitor for any future disclosed dealings but no current red flags .
- Broader governance signals: Strong say-on-pay support (96% at 2024 AGM), clawback policies, majority-independent board (91%), and executive sessions—positive governance framework backdrop .