While some companies are trimming the size of their boards in order to save costs, Seagate Technology expanded its board by two to 11 members earlier this month to accommodate the appointments of former Motorola chief executive Ed Zanders and McAfee’s current chief financial officer, Rocky Pimentel.
Zander, who stepped down as Motorola’s chief in February 2008, continued serving as a strategic advisor to Motorola’s co-CEOs until January. Payments toward his $1.5 million severance salary just came to an end at the end of February. Seagate pays its directors a $50,000 retainer for their service.
Pimentel will also serve on the board’s audit committee, according to an SEC filing the company made Monday, good for an additional $25,000. He became CFO at McAfee last year after serving the same function since 2004 at Glu Mobile, a publisher of mobile games.