The CEO, Steve Appleton, of Micron a corporation that makers semiconductors and flash memory died in a plane crash on Friday morning. His death caused the shares of Micron, which are traded on the Nasdaq were halted due to the news. Appleton was on the board of the Semiconductor Industy Association and he was given the highest honor by the trade group last year. He has worked at Micron since 1983 and held several positions in that time. He was named president and chief operation officer in 1991 and became chairman and CEO in 1994.
Micron was founded in 1978 in Boise and it became a public company in in 1984. It was ranked number 287 on the 2011 Fortune 500 list, and employs over 20,000 full-time employees. This is the second plane crash that has killed a high profile executive. In December a plane with two executives from Green-hill & Company were killed in a crash. Appleton's death is a major loss to the company, which is already struggling with slow computer sales and declining prices.
One article summarized it "The loss of Micron's top dealmaker could waylay a possible acquisition of troubled Japanese rival Elpida Memory. Saddled with millions of dollars in operating losses and major upcoming debt payments, Elpida may be in talks to be bought by Micron or reach some kind of partnership, media recently speculated."
What do you think Steve Appleton's death will due to Micron? Will they be able to cope with the sudden loss of their longtime CEO? Will Micron's possible acquisition be stopped due to this loss? What have other major companies done when they have suffered a loss of their CEO?
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CNN's article
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