SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of David A. Zinsner
On January 6, 2022, David A. Zinsner announced his decision to resign as the Executive Vice President and Chief Financial Officer of Micron Technology, Inc. (the "Company"), effective January 10, 2022.
Appointment of Sumit Sadana
The Board of Directors of the Company appointed Sumit Sadana (52), the Company’s current Executive Vice President and Chief Business Officer, to serve also as interim Chief Financial Officer, effective as of January 10, 2022. Mr. Sadana joined us in June 2017 as our Executive Vice President and Chief Business Officer. From April 2010 to May 2016, Mr. Sadana served in various roles at SanDisk Corporation, including Executive Vice President, Chief Strategy Officer, and General Manager, Enterprise Solutions until it was acquired by Western Digital in May 2016. Mr. Sadana currently serves on the Board of Directors of Silicon Laboratories Inc. as lead independent director.
Mr. Sadana has no family relationship with any directors or executive officers of the Company, nor are there any arrangements or understandings between Mr. Sadana and any other persons pursuant to which he was selected as an officer of the Company.
|Item 7.01.||Regulation FD Disclosure.|
The press release related to Mr. Zinsner’s resignation and Mr. Sadana’s appointment is included as Exhibit 99.1 to this Current Report on Form 8-K.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press release issued on January 10, 2022|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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.
|Date: January 10, 2022||MICRON TECHNOLOGY, INC.|
|By:||/s/ Rob Beard|
|Title:||Senior Vice President, General Counsel and Corporate Secretary|
Micron Announces CFO Transition
Executive Vice President and Chief Business Officer Sumit Sadana appointed to additional role of Interim CFO
BOISE, Idaho, Jan. 10, 2022 – Micron Technology, Inc., (Nasdaq: MU) today announced that David Zinsner, executive vice president and chief financial officer, has resigned from the company. Zinsner started at Micron in February 2018 and is departing to join Intel Corporation as its CFO.
A formal search for a new CFO has actively commenced. Micron has appointed Executive Vice President and Chief Business Officer Sumit Sadana to the additional role of interim CFO with immediate effect through the transition period.
“Micron’s strong financial position is the result of the transformation we have driven, and we enter calendar year 2022 with confidence for continued growth,” said Micron President and CEO, Sanjay Mehrotra. “We appreciate the contributions Dave has made to the company and the solid capabilities of his finance leadership team who have helped support Micron through our evolution.”
Micron’s financial guidance for the second quarter of fiscal 2022 remains unchanged.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
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