“The Board of Directors has formed a special committee to oversee the succession process and has initiated a search, with the assistance of an executive search firm, to identify and vet candidates,” says a company statement, “the Board has not established a timeframe for this process and intends to conduct a deliberate review of candidates who can contribute to Micron’s future success. Mark Durcan will continue to lead Micron as CEO during this process and will assist the company with its search and subsequent leadership transition.”

“Mark Durcan recently discussed with the Board his desire to retire from Micron when the time and conditions were right for the company,” says Micron Chairman Robert E. Switz, “as CEO, he has successfully guided Micron’s strategy and growth for the past five years and has allowed the company to initiate this transition from a position of strength. The Board is committed to thoughtful long-term succession planning and takes seriously its responsibility to maintain a high-calibre management team and to ensure successful executive leadership transition. We expect Mark to play an instrumental role in securing and transitioning his replacement.”

Durcan, has worked for Micron for 30 years including stints as CTO and COO.

During Durcan’s four years as CEO, Micron has slipped behind memory leader Samsung in DRAM and 3D NAND technology.

Durcan, a techie, succeeded Steve Appleton as CEO after Appleton died piloting his plane. Appleton had started as a machinist at Micron and had a notable record in reading the industry cycle.

By: DocMemory
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