Micron CEO to retire
Company’s board initiates succession process
Advanced semiconductor vendor Micron Technology, has announced that its CEO, Mark Durcan is retiring.
The company's 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.
According to the company, 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.
Switz added that 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," he said.
Micron's broad portfolio of high-performance memory technologies include DRAM, NAND and NOR Flash solutions.