Toshiba Memory Corporation Appoints Stacy J. Smith as Executive Chairman – Business Wire (press release)


TOKYO–()–Toshiba
Memory Corporation
(TMC) today announced the appointment of Stacy J.
Smith as Executive Chairman, effective on October 1, 2018.

Smith brings a long and proven track record of executive leadership to
TMC. He has extensive international experience, having both lived and
led organizations in the Asia-Pacific, Latin America, Europe, the Middle
East and Africa. He will work closely with CEO Yasuo Naruke to provide
overall leadership to the business.

Smith previously spent three decades at Intel leading organizations
across multiple disciplines. In his role as President, Manufacturing,
Operations and Sales, from 2016 to 2018, he led 40,000 employees
involved in worldwide manufacturing, technology development, supply
chain, pricing and sales. He also served as Intel’s Chief Financial
Officer for almost a decade and in this role also had responsibility for
corporate strategy, M&A, and Intel Capital. Prior to that he served as
Intel’s Chief Information Officer and Vice President for Sales for
Europe, the Middle East and Africa.

Smith also brings strong board leadership experience. He currently
serves as board chairman at Autodesk and as a director for Metromile. He
served previously as a director for Virgin America and for GEVO. He also
serves on the Board of Trustees for The Nature Conservancy of California
and on the University of Texas McCombs School of Business Advisory
Board. Smith attended The University of Texas at Austin, where he
received his MBA in 1988 and his BBA in 1985.

“We are thrilled that Stacy is joining Toshiba Memory Corporation in
this crucial leadership role at an important time in the company’s
history,” said Yasuo Naruke, President and CEO of TMC. “With Stacy’s
wealth of international leadership experience and knowledge of the
semiconductor space, there is no doubt he is the perfect person to help
lead our company in the next phase of growth as an independent company.”

“I am excited to take on this important challenge, and honored to join
the TMC team,” said Smith. “Toshiba invented flash memory, and with TMC
now operating as an independent company with increased capacity to
invest in developing and growing semiconductor technology, the company
has a strong growth trajectory ahead of it.”

Smith’s hiring follows the acquisition this year of TMC by an industry
consortium led by Bain Capital Private Equity. Bain Capital Private
Equity has a long history of successful investments in Japan including
Skylark, Jupiter Shop Channel, BellSystem24, Domino’s Pizza Japan, Ooedo
Onsen, and Asatsu-DK. The firm’s deep market knowledge, extensive local
networks and expertise in driving operational improvement strategies
have made Bain Capital a valued partner for Japanese companies.

“Stacy is the right leader to help TMC, already a technology leader in
the flash memory industry, achieve its potential as an independent
company,” said David Gross-Loh, a director of TMC and a managing
director and co-head of Asia for Bain Capital Private Equity. “We are
very pleased to welcome Stacy to TMC and look forward to working closely
with him and the expanded management team.”

About Toshiba Memory Corporation

Toshiba Memory Corporation, a world leader in memory solutions, is
dedicated to the development, production and sales of flash memory and
SSDs. In June 2018, Toshiba Memory was acquired by an industry
consortium led by Bain Capital. Toshiba Memory pioneers cutting-edge
memory solutions and services that enrich people’s lives and expand
society’s horizons. The company’s innovative 3D flash memory technology,
BiCS FLASH™, is shaping the future of storage in high density
applications including advanced smartphones, PCs, SSDs, automotive and
data centers. For more information on Toshiba Memory, please visit https://business.toshiba-memory.com/en-apac/top.html



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