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Micro-Empower (MU-US) CEO Steve Appleton died on the crash of a small aircraft on Friday. This is another blow to Micron, who is struggling to cope with the harsh market conditions of DRAM.
Recently it was rumored that Micron and Elpida are allegedly forming alliances, so the outside world is paying close attention to the follow-up impact of Appleton's death.
The 51-year-old Appleton has been in the semiconductor industry for 30 years. He drove a small plane to perform at an air show on Friday but crashed at an airport in Boise, Idaho.
Appleton's death shocked the semiconductor industry, and Micron subsequently announced that Mark Durcan, president and chief operating officer who would have retired in August, will temporarily suspend the transitional executive until the board finds a replacement.
Micron’s shares, which resumed trading after the crash, fell 6% for a time, and the current decline has converged to 1%.
Stifel Nicolaus analyst Kevin Cassidy described Appleton as inspiring and never giving up. It is the outstanding leader of Micron and the entire semiconductor industry will miss his vitality. Cassidy does not worry about future operations of Micron, because Other managements are also very capable.
Born in California, USA, Appleton joined Micron after graduating from Boise State University in 1983 and was promoted to chief executive officer in 1994. He resigned in 1996 but the board strongly retained it and returned to Micron nine days later.
Appleton soared rapidly, making him the youngest CEO of the Fortune 500 company at the age of 34; he won the Robert Noyce Award, the highest honor in the semiconductor industry, in 2011.
The SIA (American Semiconductor Industry Association) issued a statement: "Appleton is a visionary and is a benchmark for the industry. The entire semiconductor industry will deeply miss him. Our heart is with his family."