Micron appoints Durcan CEO after Appleton's death

SAN FRANCISCO (Reuters) - Memory chipmaker Micron Technology's board appointed company veteran Mark Durcan as chief executive a day after longtime Chairman and CEO Steve Appleton was killed in a plane crash.

Hours after Appleton's death on Friday morning, Micron's board named Durcan, the president and chief operating officer, as temporary CEO and analysts speculated he could be asked to stay on full time.

The 51yearold Appleton, a threedecade industry veteran who performed stunts at airshows, died after the small plane he was piloting crashed at an airport in Boise, Idaho, where the chipmaker is headquartered.

His death was a major loss to the company, already struggling with sluggish computer sales and declining prices.

The quick appointment of Durcan, 51, as permanent CEO came just a week after the company announced he would retire in August.

Durcan joined Micron in 1984 and served as chief technology officer before becoming chief operating officer in 2007.

Seen as Micron's evenkeeled top technologist, Durcan has taken on a greater role running the chipmaker daytoday in the past few years, while largerthanlife Appleton focused more on strategy.

Micron's board of directors also named director Robert Switz the new chairman of the board. Switz was formerly CEO of ADC Telecommunications.

"We are fortunate to be able to appoint someone with Mark's operations and technical leadership experience to serve as the company's CEO," said Switz. "Mark has been instrumental in Micron's success in his role as President and COO and has garnered the respect of the company, his team members and the industry at large."

The loss of Micron's top dealmaker could waylay a possible acquisition of troubled Japanese rival Elpida Memory. Saddled with millions of dollars in operating losses and major upcoming debt payments, Elpida may be in talks to be bought by Micron or reach some kind of partnership, media recently speculated.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Daily oil palm activities in Sabah to continue amid SOPs - associations
SK Nexilis to build RM2.3bil copper foil facility in Kota Kinabalu�
Gabungan AQRS wins RM83.57mil job
BSL Corp slides over unsuccessful corporate exercise
RGT to speed up expansion as Q2 profit soars on strong export
Duopharma to supply 6.4 million doses of Sputnix V vaccine�
Pharmaniaga signs deal to supply 12 million doses of vaccine to MOH
Indonesia says new sovereign wealth fund attracts USD10b commitment
Disappointing close for Bursa, Public Bank retains part of gains
Jet engine maker Rolls-Royce cuts 2021 forecasts on travel slump

Stories You'll Enjoy