Micron CEO Mark Durcan to Retire

Micron Technology, Inc. announced the upcoming retirement of its CEO, 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.

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, COB and 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.”

Durcan, CEO since February 201, was a key technical decision maker in bringing Micron’s next-generation technologies to market. He has expanded company’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 Intel.

He 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.