By Benjamin Pimentel

SAN FRANCISCO (Dow Jones) -- Nvidia Corp. on Friday named David White as the chip maker's new chief financial officer.

White replaces Marvin Burkett, whose plan to retire was announced in March last year, the company said. White, 53, had been CFO at Sanmina-SCI Corp, and had also worked at Seagate Technology Inc. (STX).

His annual base salary will be $425,000, Nvidia (NVDA) said in a filing with the Securities and Exchange Commission.

White's appointment takes effect immediately, the company said.