Micron Technology, Inc.
MICRON TECHNOLOGY INC (Form: 8-K, Received: 02/03/2017 16:53:30)


 
 
 
 
 



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

February 2, 2017
Date of Report (date of earliest event reported)

MICRON TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)


Delaware
 
1-10658
 
75-1618004
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)


8000 South Federal Way
Boise, Idaho 83716-9632
(Address of principal executive offices)


(208) 368-4000
(Registrant’s telephone number, including area code)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))

 
 
 
 
 






Item 5.02.
Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 2, 2017, the Company announced the upcoming retirement of Mark Durcan, its Chief Executive Officer. A press release related to Mr. Durcan's retirement is attached hereto as Exhibit 99.1.


Item 9.01.
Financial Statements and Exhibits.
 
 
 
(d) Exhibits.


Exhibit No.
 
Description
99.1
 
Press Release issued on February 2, 2017






SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
MICRON TECHNOLOGY, INC.
 
 
 
 
 
 
 
 
Date:
February 3, 2017
By:
/s/ Ernest E. Maddock
 
 
Name:
Ernest E. Maddock
 
 
Title:
Chief Financial Officer and
Vice President, Finance





EXHIBIT 99.1
FOR IMMEDIATE RELEASE

Contacts:
Ivan Donaldson
Marc Musgrove
 
Investor Relations
Public Relations
 
idonaldson@micron.com
mmusgrove@micron.com
 
(208) 368-4093
(208) 363-2405




MICRON CEO ANNOUNCES UPCOMING RETIREMENT

Board Initiates Succession Process

BOISE, Idaho, (Feb. 02, 2017) – Micron Technology, Inc., (NASDAQ:MU) today announced the upcoming retirement of its Chief Executive Officer, 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. Mark 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, Chairman of the Board and a 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."

Micron Technology, Inc., is a global leader in advanced semiconductor systems. Micron's broad portfolio of high performance memory technologies—including DRAM, NAND and NOR Flash—is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. Micron's common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.

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