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Saturday, 4 February 2012 - Micron CEO Appleton dies in plane crash |
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Steve Appleton speaks at the Reuters Semiconductor Industry Summit in San Francisco, California in this November 2, 2005 file photo. Credit: Reuters/Kimberly White By Noel Randewich SAN FRANCISCO | Fri Feb 3, 2012 3:32pm EST SAN FRANCISCO (Reuters) - Micron Technology Inc Chief Executive and Chairman Steve Appleton died in a plane crash on Friday, a major loss for the U.S. semiconductor industry. Micron said 51-year old Appleton was killed in a small plane accident in Boise, Idaho, where the U.S. memory chipmaker is headquartered, and would provide more details later. Appleton, an avid pilot who did stunts at airshows, was appointed CEO in 1994 and added the post of chairman in 2007. "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." A California native, Appleton went to Boise State University and joined Micron shortly after graduating in 1983, working a night shift. 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 from the Semiconductor Industry Association in 2011. The award, named after Intel cofounder Robert Noyce, goes to people who have made major contributions to the chip industry. Not a stranger to mishaps, the chip industry veteran in 2004 was injured while flying a stunt plane. Micron makes memory chips used in personal computers, smartphones and tablets and competes against Asian rivals Hynix, Samsung Electronics and Toshiba. The company announced last week that Chief Operating Officer Mark Durcan would retire in August, but Appleton's death raised questions about whether he might stay on. "We'd be surprised if he actually did retire given this tragedy. We would expect him to continue at least in the short run," Wedbush analyst Betsy Van Hees said. Trading in Micron was halted Friday morning pending the company's announcement. They rose 3 percent to $7.95 in late-afternoon trading. (Additional reporting by Himank Sharma in Bangalore) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) The_Traveler wrote:   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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