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Hutchinson Technology names Richard Penn as President and CEO

The board of directors of Hutchinson Technology announced that Richard Penn has been named president and CEO and appointed to the board, effective October 1. Penn succeeds Wayne Fortun, who has been appointed chairman of the board, also effective October 1. Jeffrey Green, who co-founded Hutchinson Technology, is retiring from the board and from his position as chairman, effective at the end of the company's current fiscal year, September 30.