In a surprise move, Seagate has let both its CEO and chief operating officer go.

The CEO, William Watkins, has been dismissed and replaced with chairman Stephen Luczo.
David Wickersham, president and chief operating officer, has resigned and been replaced by Robert Whitmore, previously executive vice-president and chief technology officer.
Shreholders reacted by driving the company's share price for more than 15%.
Maenwhile, the company recently announced that it will lay off about 10% of its US workforce. It is due to announce its second quarter results next week.