Micron Technology : CEO Announces Upcoming Retirement Feb 2, 2017
February 02, 2017 at 12:59 pm EST
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Board Initiates Succession Process
BOISE, Idaho, Feb. 02, 2017 (GLOBE NEWSWIRE) -- Micron Technology, Inc., (NASDAQ:MU) today announced the upcoming retirement of its Chief Executive Officer, Mark Durcan. 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. 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,' said Robert E. Switz, Chairman of the Board and a member of the search committee. '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-caliber management team and to ensure successful executive leadership transition. We expect Mark to play an instrumental role in securing and transitioning his replacement.'
Micron Technology, Inc., is a global leader in advanced semiconductor systems. Micron's broad portfolio of high-performance memory technologies-including DRAM, NAND and NOR Flash-is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. Micron's common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
Micron and the Micron orbit logo are trademarks of Micron Technology, Inc. All other trademarks are the property of their respective owners.
Public Relations Contact:
Marc Musgrove
Micron Technology, Inc.
+1 (208) 363-2405, mmusgrove@micron.com
Investor Relations Contact:
Ivan Donaldson
Micron Technology, Inc.
+1 (208) 368-4093, idonaldson@micron.com
Micron Technology Inc. published this content on 02 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 February 2017 17:59:06 UTC.
Original documenthttp://investors.micron.com/releasedetail.cfm?ReleaseID=1010220
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Micron Technology, Inc. specializes in the design, manufacturing and marketing of semiconductors. The group's products include memory products (dynamic memories, flash memories, etc.) and semiconductor systems. Net sales break down by market as follows:
- IT infrastructure (36.7%): computers, network systems, graphics systems and cloud servers;
- phones and mobile devices (23.4%): smartphones, tablets and mobile devices;
- storage media (16.4%): mainly fixed and removable data storage components;
- other (23.5%): primarily automotive, connected home and consumer electronics and industries markets.
As of 31/08/2023, the group has 11 manufacturing sites worldwide.
Net sales are distributed geographically as follows: the United States (50.2%), Taiwan (17.4%), China (14%), Japan (6.4%), Hong Kong (2.1%), Asia/Pacific (4.8%), Europe (4.4%) and other (0.7%).