Micron Technology Inc. has announced the resignation of company President Mark Adams.
The company further revealed that Adams is stepping down as the company's president due to health reasons. Adams has been a part of the company since 2006 but has been the president only for nearly four years. He joined the same year MU acquired Lexar Media Inc., where he was once the chief operating officer.
Adams will stay with the company until February 1 of this year. This will allow him to provide guidance and offer support during the transition period.
Adams has been a vital part and a stellar leader and contributor to the growth ofo the company. Micron CEO Mark Durcan says, "We thank him for his dedication and service and wish him the very best with his recovery and into the future."
He is considered half of a "dynamic duo" that helped Micron make it through after the death of former CEO and Chairman Steve Appleton. He has also contributed in the "resurgence in profitability after 2009 and the acquisition of bankrupt Japanese memory chip maker Elpida in 2013."
The other half, according to Betsy Van Hees, senior vice president of equity research for Wedbrush Securities in San Francisco, is Mark Durcan. Duncan is the former president of Micron who then became CEO after Appleton's death.
It can be recalled that Appleton died after his experimental plane crashed at the Boise Airport in February 2012.
Durcan is the engineer and technology expert, while Adams is the operations, sales and marketing leader, she said. The two complemented each other and helped make a "seamless" transition after Appleton's death.
According to Market Watch, Micron, considered to be one of the world's largest memory-chip makers, is the last remaining U.S. supplier of dynamic random access memory (DRAM), a key component in personal computers.
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