Stephen J. Luczo


Stephen J. Luczo

Infobox Person
name = Stephen J. Luczo



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nationality = United States
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employer = Seagate Technology
occupation =
title = Chairman of the Board of Directors
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predecessor = Alan Shugart
successor = incumbent
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Stephen J. Luczo (also known as Steve Luczo) is the Chairman of the Board of Directors of Seagate Technology.cite web
url = http://www.seagate.com/www/en-us/about/investor_relations/company_information/board_of_directors/
title = Board of Directors
publisher = Seagate Technology
accessdate = 2007-04-10
] He has also served on the Boards of Directors of Gadzoox Microsystems, Inc. (renamed Gadzoox Networks, Inc. in 1997, and acquired by Broadcom in 2003), Dragon Systems, Inc., Crystal Decisions, Inc. (formerly Seagate Software [cite web
url = http://www.businessobjects.com/news/presscd/2001/030501.asp
title = Seagate Software changes company name to Crystal Decisions
date = 2001-03-05
accessdate = 2007-04-10
] , acquired by Business Objects in 2003), and e2open. [cite web
url = http://sec.edgar-online.com/1999/09/03/14/0001012870-99-003076/Section19.asp
title = Seagate Software Inc. Item 10: Directors and Executive Officers
accessdate = 2007-04-10
] [cite web
url = http://sec.edgar-online.com/2002/12/09/0001012870-02-004599/Section5.asp
title = Seagate Technology: Employees
accessdate = 2007-04-10
]

Business career

Steve Luczo holds a B.A., economics and psychology, and MBA from Stanford University. [cite web
url = http://www.accessmylibrary.com/premium/0286/0286-6443343.html
title = Seagate Drives Into New Gear In Evolution And Revolution
author = Patrick Seitz
publisher = Investor's Business Daily
date = 2000-01-20
accessdate = 2007-04-10
] He was the Senior Managing Director of the Global Technology Group of Bear, Stearns & Co. Inc., an investment banking firm, from February 1992 to October 1993. [cite web
url = http://www.forbes.com/finance/mktguideapps/personinfo/FromMktGuideIdPersonTearsheet.jhtml?passedMktGuideId=339824
title = Stephen J Luczo: Profile
publisher = Forbes.com
accessdate = 2007-04-10
] He joined Seagate Technology in October 1993 as Senior Vice President of Corporate Development. In March 1995, he was appointed Executive Vice President of Corporate Development and Chief Operating Officer of Seagate Software Holdings. In September 1997, he was promoted to the position of President and Chief Operating Officer of Seagate Technology, Inc. In 1997, Seagate experienced a downturn, along with the rest of the industry, and launched a restructuring effort. In July 1998, the CEO Alan Shugart was asked to resign and Luczo became the new Chief Executive Officer, joining the Board of Directors. [cite web
url = http://news.com.com/Seagate+asks+CEO+to+resign/2100-1023_3-213571.html
title = Seagate asks CEO to resign
author = Dawn Kawamoto
publisher = CNET
date = 1998-07-21
accessdate = 2007-04-10
]

Historically, Seagate's design centers had been organized around function, with one product line manager in charge of tracking the progress of all programs. In 1998, Luczo and CTO Tom Porter characterized the organizational redesign of design centers into core teams organized around individual projects, to meet the corporate objective of faster time to market.cite web
url = http://wfnetwork.bc.edu/pdfs/seagate.pdf
title = Seagate Technology: A case (with teaching note) on the role of senior business leaders in driving work/life cultural change
author = Phyllis Siegel
publisher = The Wharton Work/Life Roundtable, A Division of the Wharton Work/Life Integration Project, University of Pennsylvania
year = 2001
accessdate = 2007-04-10
] As the CEO, Luczo decided to increase investment in technology, and to diversify into faster-growing, higher-margin businesses. In May 1999, Seagate sold its Network & Storage Management Group (NSMG) to VERITAS Software in return for 155 million shares of VERITAS's stock. With this deal, Seagate became the largest shareholder in VERITAS, with an ownership stake of more than 40%. However, the Seagate Board of Directors felt that the market was incredibly under pricing Seagate's stock, as was clear from a 200% increase in VERITAS stock versus only a 25% increase in Seagate's stock.cite web
url = http://www.franklincollege.edu/pwp/hcoddington/Seagate.pdf
title = Seagate Technology Buyout
author = Melissa Bockhold, Heather Coddington, Laura Duerstock, and Ali Wampler
publisher = Franklin College
format=PDF
date = 2006-03-22
accessdate = 2007-04-10
]

Luczo believed that Seagate needed to make significant capital investments to achieve its goals. He decided to turn the company private, since disk drive producers had a hard time obtaining capital for long-term projects.cite paper
author = Gregor Andrade, Todd Pulvino, Stuart C. Gilson
title = Seagate Technology Buyout
publisher = Harvard Business School Publishing
date = 2002-03-12
url = http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=201063
accessdate = 2007-04-10
] In early November 1999, Luzco met with representatives of Silver Lake Partners to discuss a major restructuring of Seagate. After two failed attempts to increase Seagate's stock price and unlock its value from VERITAS, Seagate's Board of Directors authorized Luzco to seek advice from Morgan Stanley in October 1999. In early November 1999, Morgan Stanley arranged a meeting between Seagate executives and representatives of Silver Lake Partners. On November 22, 2000, Seagate management, VERITAS Software, and an investor group led by Silver Lake closed a complex deal taking Seagate private in what was at the time the largest buyout ever of a technology company. [cite web
url = http://www.silverlake.com/content.php?page=investments-portfolio&id=9
title = Investments Portfolio: Seagate
publisher = Silver Lake Partners
accessdate = 2007-04-10
] [cite press release
title = Seagate, VERITAS Software and Investor Group Led by Silver Lake Partners Announce Landmark $19 Billion Transaction
publisher = Silver Lake Partners
date = 2000-03-29
url = http://www.silverlake.com/content.php?page=news-release&id=21
accessdate = 2007-04-10
]

Luczo became the Chairman of the Board of Directors of Seagate Technology on June 19, 2002. In 2003, he accepted an invitation from the New York Stock Exchange to join its Listed Companies Advisory Committee. [cite web
url = http://www.seagate.com/ww/v/index.jsp?locale=en-US&name=Seagate_CEO_Steve_Luczo_Joins_NYSE_Advisory_Committee&vgnextoid=895f27602304e010VgnVCM100000dd04090aRCRD
title = Seagate CEO Steve Luczo Joins NYSE Advisory Committee
publisher = Seagate Technology
date = 2003-04-14
accessdate = 2007-04-10
] When the company separated the roles of chairman and CEO in 2004, Luczo resigned as the Seagate CEO on July 3, 2004, but retained his position as Chairman of the Board of Directors.

Personal life

Luczo is also a songwriter and one of the co-founders of Talking House Productions, a production company specializing in music and other audio arts programming. [cite web
url = http://mixonline.com/design/profiles/audio_talking_house_productions/
title = Talking House Productions
author = Tom Kenny
publisher = Mix Magazine
date = 2006-10-01
accessdate = 2007-04-10
] He is also the founder of Balance Vector Productions, an international television and film production company based in California and operating throughout the world. [cite web
url = http://www.balancevector.com/team.html
title = Balance Vector Profile and Team
accessdate = 2007-04-10
]

Luczo is also an avid surfer, snowboarder and mountain biker and participates in these sports with world class athletes. His company, Balance Vector, has sponsored many World Championships and Pro level events such as the $75,000 purse for Maverick's Surf Contest in 2004. [cite web
url = http://surfingthemag.com/news/surfing-pulse/mavs_102904/
title = The Boys Are Back In Town
author = Marcus Sanders
publisher = Surfing Magazine
year = 2004
month = May
accessdate = 2007-04-10
] He has also made numerous financial contribution to charities focused on at-risk children or environmental issues such as SurfAid International. [cite web
url = http://www.surfaidinternational.org/site/apps/nl/content2.asp?c=ekLPK4MOIsG&b=809387&ct=1412113
title = Second Annual Liquid Nation Ball Raises More Than $240,000 for Surf Aid International
publisher = SurfAid International
date = 2005-09-12
accessdate = 2007-04-10
] On March 19, 2007, Luczo made a $100,000 donation to the Wikimedia Foundation. [cite web
url = http://en.wikipedia.org/w/index.php?title=Wikipedia:Wikipedia_Signpost/2007-04-09/News_and_notes&oldid=121637686
title = Wikipedia Signpost: $100,000 donation to Wikimedia Foundation
date = 2007-04-09
accessdate = 2007-04-10
] [cite web
url = http://fundraising.wikimedia.org/en/fundcore/list?edit%5Bstart%5D%5Byear%5D=2007&edit%5Bstart%5D%5Bmonth%5D=3&edit%5Bstart%5D%5Bday%5D=5&edit%5Bend%5D%5Byear%5D=2007&edit%5Bend%5D%5Bmonth%5D=4&edit%5Bend%5D%5Bday%5D=5&edit%5Bcurrency%5D=&edit%5Bminimum%5D=10000&op=View+results&edit%5Bform_id%5D=fundcore_filter
title = Fidelity Charitable Gift Fund
publisher = Wikimedia Foundation
date = 2007-03-19
accessdate = 2007-04-10
]

In May, 2007 Luczo ran an entry in the Indianapolis 500 paired with Jay Penske co-owners of Luczo-Dragon Racing Ltd., their driver was Ryan Briscoe, sponsored by Symantec. Briscoe qualified 7th and finished in 5th position.

References

External links

* [http://www.forbes.com//forbes/2001/0514/222.html Giving Wall Street The Cold Shoulder]
* [http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=918176 Stephen Luczo Profile] at Forbes.com.


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