Seagate CEO leaving Microsoft board

|About: Seagate Technology (STX)|By:, SA News Editor

Seagate (STX +2.8%) chairman/CEO Stephen Luczo, a member of Microsoft's (MSFT +2.7%) board since May 2012, has stepped down.

Luczo: "With the CEO search completed and Satya off to a strong start, this felt like an appropriate time to make this change so I can turn my full attention to leading Seagate."

His departure follows a February board shakeup that coincided with Satya Nadella's appointment as CEO. Bill Gates resigned as chairman (while remaining a director), lead independent director replaced him, and Nadella gained a board seat. Since then, ValueAct president Mason Morfit has officially joined.

Steve Ballmer remains a board member for now. News of Luczo's resignation comes on a day when Microsoft closed above $40 for the first time since 2000.