Micron CEO dies in plane crash, industry stunned

Micron CEO dies in plane crash, industry stunned

Chief Executive Officer and Chairman of Micron Technology Inc. Steve Appleton speaks at the Reuters Semiconductor Industry Summit in San Francisco, California in this November 2, 2005 file photo. REUTERS/Kimberly White

Fri Feb 3, 2012 6:27pm EST

BOISE, Idaho/SAN FRANCISCO, Feb 3 - Micron Technology Inc Chief Executive and Chairman Steve Appleton died in a small plane crash on Friday, a major loss for a U.S. memory chipmaker already struggling with sluggish computer sales and declining prices.

The 51-year-old Appleton, a three-decade industry veteran who performed stunts at airshows, died after the small plane he was piloting crashed at an airport in Boise, Idaho, where the chipmaker is headquartered.

His death stunned the tight-knit semiconductor industry. Appleton was a prominent figure in Boise, a city of 200,000 in the western United States, and a member of the Idaho Business Council.

President and Chief Operating Officer Mark Durcan, who was due to retire in August, will take up the CEO's responsibilities until the company's board can appoint a permanent successor. Directors will meet over the weekend, Micron said in a statement.

Shares in Micron, halted prior to the announcement, resumed trade after the regular market close and promptly slid 6 percent.

"Steve was a high-energy, never-give-up type of inspirational leader of the company. The entire industry will miss Steve's energy," said Stifel Nicolaus analyst Kevin Cassidy. "That said, Micron has a deep bench of managers that shared Steve's vision."

The accident happened while Appleton flew an experimental Lancair single-engine airplane, Boise Airport spokeswoman Patty Miller told Reuters. Lancair sells kits to build high-end planes.

After taking off and reaching an altitude of about 200 feet, Appleton radioed that he had a problem and needed to turn around, Boise police spokeswoman Lynn Hightower told reporters.

His crash soon after caused a large fire and left a twisted, black mass of wreckage.

No stranger to mishaps, Appleton was injured in 2004 while piloting a stunt plane.

Appleton - a California native who joined Micron to work the night shift right after graduating from Boise State University in 1983 - was appointed CEO in 1994. He resigned in 1996, only to return nine days later after the board asked him to reconsider.

His subsequent, meteoric ascent led to his becoming the youngest CEO on the Fortune 500 at the age of 34.

Appleton, a noted sports enthusiast who also scuba-dived, surfed and raced offroad cars and motorcycles, received the prestigious Robert Noyce award - the industry's highest honor - from the Semiconductor Industry Association in 2011.

The award, named after Intel Corp cofounder Robert Noyce, is conferred on those who have made major contributions to the chip industry.

A BIG LOSS

"Steve was a visionary and a true leader in our industry. He will be deeply missed by the entire semiconductor community and our prayers and thoughts are with his family," Brian Toohey, President of the Semiconductor Industry Association, said in a statement.

Micron makes memory chips used in personal computers, smartphones and tablets and competes against Asian rivals Hynix Semiconductor Inc, Samsung Electronics Co Ltd and Toshiba Corp.

Memory chip makers are struggling as falling prices and huge investments to stay competitive saddle them with massive losses. Micron is the last remaining U.S. producer of memory chips.

Boise Mayor Dave Bieter said Appleton was sensitive to how job cuts by Micron in recent years affected the community.

"He called me and told me about the layoffs coming up and explained how the business-end of chip technology would develop and that Micron would come out strong on the other end. And it happened exactly the way he said it would," Bieter told reporters.

The company announced just last week that Durcan would retire in August, but Appleton's death raised questions about whether he might stay on.

Analysts also questioned how the incident will affect reported discussions over a potential equity tie-up or partnership with Japan's Elpida, which is struggling to find financing as debt and losses mount.

Trading in Micron shares was halted on Friday morning pending the company's announcement. The shares were down at $7.48 in extended trading, from a last quote of $7.95 on the Nasdaq, before the halt.

(Additional reporting by Himank Sharma in Bangalore, Writing by Edwin Chan; Editing by Andre Grenon, Gary Hill and Tim Dobbyn)

 

http://www.reuters.com/article/2012/02/03/us-micron-idUSTRE8121L820...

 

 

Views: 64

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

How You Provoke a Civil War

In the world of counter intelligence which is simply one aspect of many pertaining to asymmetrical…See More
14 hours ago
Burbia commented on Burbia's video
Thumbnail

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

"I don't follow as much with Josh Reeves than I use to. He seems to be a documentary producing…"
yesterday
Burbia posted a video

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

DONATE-paypal-dayglow76@yahoo.comCashapp-reevesradioVenmo-Josh-Reeves-61FILMS AND AUDIOBOOKS DOWNLOAD STORE-https://store.payloadz.com/results/242828-josh-re...
yesterday
Doc Vega posted blog posts
yesterday
tjdavis posted a video

CHARLIE KIRK VIDEO THAT KEEPS GETTING REMOVED OFF OF SEVERAL PLATFORMS

I had not planned to share this publicly, but I believe Advar, who spoke with Charlie Kirk while I was very ill, would have wanted me to. After my interview ...
Thursday
pohonemas33 team commented on Chris of the family Masters's photo
Thumbnail

Gold-Coast-Message

"untuk bermain slot, kamu cukup kunjungi situs kacang99 pasti langsung gacor"
Wednesday
Doc Vega posted blog posts
Wednesday
Burbia posted a blog post

Former President Trump?

When was this article written? It is attributed to Victor Davis Hanson. He is a Fellow at Hoover…See More
Tuesday
Doc Vega posted a blog post

Don’t Go Hunting For Bigfoot

It is October 19, 2019 at 5:46 AM. This will be the last time any visual evidence of Mark is seen…See More
Monday
tjdavis posted a video

Most Corrupt Series: Elizabeth Warren | Forgotten History

Elizabeth Warren has built her reputation as a "reformer", but her political career has also drawn sharp criticism. Questions have been raised about her fina...
Sep 19
Doc Vega commented on Doc Vega's blog post Ashrams and Moonies Perfect Case for Mind Control
"less prone, Thanks for your support Buddy! "
Sep 18
Doc Vega posted a photo

main-thumb-ti-6724328-100-cnsgqkrgkrhyeyyerazynmuwoplecnbx

When will they put Trump on Mt. Rushmore?
Sep 18
Doc Vega's 4 blog posts were featured
Sep 18
Burbia's blog post was featured

Charlie Kirk Assassination

September 10th 2025 in Utah Turning Point USA CEO has been assassinated. Coincidentally,  answering…See More
Sep 18
Charles Magus's blog post was featured

FURTHER PROOF OF WALK-INS! Prisoners of the Dulce Base by Sherry Shriner

There is a real connection between the Cabal and what is happening at this Undergroung…See More
Sep 18
Less Prone favorited Doc Vega's blog post Ashrams and Moonies Perfect Case for Mind Control
Sep 18
Less Prone commented on tjdavis's blog post Sentient World Simulation
"Cannot open the link"
Sep 18
Tina Sullivan is now a member of 12160 Social Network
Sep 18
Doc Vega posted blog posts
Sep 17
Sandy posted a video

We’re cooked

We’re cooked
Sep 17

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted