- Signs for push-out forces
- After five years on the job
- Laud for Durcan
- Search for a successor
(management-change.com) — Boise, Idaho, February 02, 2017 — Mark Durcan, chief executive of Micron, leaves. As announced by Micron Technology, Inc. in a news release on Thursday, February 02, 2017, Mark Durcan leaves the post as Chief Executive Officer at the semiconductor company in a surprising move after five years on the job.
Micron will undertake a search for a successor.
Mark Durcan will continue to lead Micron as CEO during the search process and will assist the company with its search and subsequent leadership transition.
“Mark Durcan recently discussed with the Board his desire to retire”
The management change is explained as follows. Robert E. Switz, Chairman of the Board and a member of the search committee said: “Mark Durcan recently discussed with the Board his desire to retire from Micron when the time and conditions were right for the company.”
Precise information about the future plans of Durcan was not immediately available.
Share price rise since May 2016
The change follows a rise in the share price of Micron Technology, Inc. since May 2016.
Chaired by Robert E. Switz
Micron Technology, Inc. is chaired by Robert E. Switz.
Switz was the Chairman, President and Chief Executive Officer of ADC Telecommunications, Inc. (ADC), a supplier of network infrastructure products and services from August 2003 until December 2010, when Tyco Electronics Ltd. acquired ADC.
On the job as CEO since 2012
Durcan has been the Chief Executive Officer at Micron Technology, Inc. since February 2012.
A 30-year company veteran, Durcan rose from his first role as a Process Integration Engineer to Chief Technical Officer, President, and, ultimately, CEO in 2012.
Durcan has expanded Micron’s global presence and enhanced its capabilities with strategic acquisitions, including Elpida (2012), Qimonda AG’s ownership in Inotera Memories, Inc. (2008), and Toshiba’s DRAM business (2001).
He has also forged long-lasting partnerships with industry leaders such as Intel.
Durcan currently serves on the Semiconductor Industry Association Board and the Technology CEO Council.
He is the Chairman of the Micron Technology Foundation, Inc., which was formed to advance STEM education and support civic and charitable institutions in the communities in which Micron has facilities.
He also serves on the board of directors for AmerisourceBergen Corp. and Freescale Semiconductor, Inc.
Durcan earned both bachelor’s and master’s degrees in chemical engineering from Rice University.
Durcan’s appointment as CEO came after Steven R. Appleton, longtime Micron Chairman and CEO, passed away in a February 3, 2012, airplane accident in Boise.
Generally speaking, when a top leader announces to step aside with no successor available, it is a sign that the change was unplanned and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Mark Durcan’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 06.2017 ($).