D. Mark Durcan is a strong choice for leading the memory chip maker and a sign of the depth of talent Steve Appleton recruited into Micron Technology Inc., analysts say.
Durcan became interim CEO hours after Appleton died Friday, in accordance with Micron’s bylaws. Micron’s board wasted no time in making the job permanent Saturday, ensuring no gap in leadership at the top of a company that employs 6,000 people in the Treasure Valley.
“Durcan is a guy people at Micron want to follow,” said Mike Howard, a semiconductor analyst in Boise and a former Micron employee.
Appleton, 51, died Friday when the small high-performance plane he was piloting by himself crashed after takeoff at the Boise Airport. He had led the memory chip manufacturer for 18 years as chairman and chief executive.
Durcan, 50, had been the No. 2 man at Micron since 2007 and had announced Jan. 27 that he would retire in August. The company did not make him available for comment after Saturday’s board meeting, but a spokesman told The Associated Press that the changed circumstances mean Durcan no longer plans to leave at that time. Howard said he thought Durcan may have been getting tired of waiting to move up.
The board did not name him chairman but did make him a director. The chairmanship went to another board member, Robert E. Switz, the former chairman and CEO of ADC Telecommunications, a network-infrastructure company purchased by Tyco Electronics in 2010. The combined company is now called TE Connectivity.
The board named Mark W. Adams president to replace Durcan and made Adams a director, too. He had been vice president of worldwide sales.
Howard said the quick decision by the board to appoint Durcan reflects the company’s concern for signaling a stable environment following Appleton’s death.
“Wall Street does not like confusion,” he said. “They like to know what is going on. To not move quickly would have sent a lot of question marks through the market.”
Being able to move so quickly is also a tribute to Appleton’s ability to develop a deep talent pool, said Skip Oppenheimer, chairman and CEO of Boise’s Oppenheimer Companies.
“That is the sign of a real leader,” Oppenheimer said.
Durcan brings strong engineering skills and understanding of the operations and business sides of Micron, observers say. He and Appleton worked side by side, Oppenheimer said.
Analysts say Appleton was the tough competitor and visionary and Durcan the man with his hands on the company’s wheel.
“He has a quiet charisma about him,” Howard said.
“Mark has been instrumental in Micron’s success in his role as president and chief operating officer and has garnered the respect of the company, his team members and the industry at large,” Switz said.
Adams was chief operating officer at Lexar Media, a California company that makes flash-memory products, when Micron bought it in 2006.
Adams holds a bachelor’s degree in economics from Boston College and a master’s degree from Harvard Business School.
Switz, a board member since 2006, has previously served as chairman of the Micron board’s audit and governance committees.
Bill Roberts: 377-6408
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