The 51year old Appleton, an industry veteran of 3 decade who performed aerobatics at airshows, died after the small plane he was piloting crashed at an airport in Boise, Idaho, where is located the chip manufacturer.
His death stunned the semiconductor industry tight-knit. Appleton was a prominent figure in Boise, a city of 200,000 in the United States of America and a member of the Business Council of Idaho.
President and CEO Mark Durcan, who was due to retire in August, will have the responsibilities of CEO until the company’s Board of Directors may appoint a permanent successor. Micron Directors meet at the weekend, said in a statement.
Shares in Micron, stopped before the announcement, resumed trade after the regular market ready and close slid 6 percent.
Steve was a high-energy type, never-give-up inspirational leader of the company. The entire industry will lose energy from Steve, “said an analyst at Stifel Nicolaus Kevin Cassidy. “That said, Micron has a deep bench of managers Steve vision which shared.”
The accident happened while experimental single-engine Lancair aircraft flew in Appleton, spokesman for the Boise Airport Patti Miller told Reuters. Lancair sells kits to build high-end aircraft.
Shortly after takeoff, reaching about 200 meters of altitude, Appleton that he had a problem radioed and Boise police spokeswoman Lynn Hightower needed to turn around, told reporters.
The aircraft rolled to the left, then fell to the ground, where he fell, causing a huge fire and leaving a twisted wreckage, black.
Appleton, a California native, joined micron to work night shift right after graduating from Boise State University in 1983. His subsequent meteoric rise has led to his becoming the youngest CEO on the Fortune 500 at the age of 34, in 1994.
He resigned in 1996 amid speculation about a power struggle of meeting room, only to return nine days later, after the Council asked him to reconsider.
Appleton, a noted sports enthusiast who also surfed and scuba dived, ran offroad cars and motorcycles, received the prestigious award of Robert Noyce-the industry’s highest honor-the semiconductor industry association in 2011.
The award, named after Intel Corp. co-founder Robert Noyce, is conferred on those who have made major contributions to the chip industry.
Officials in the sprawling headquarters of Micron and plant, where several flags flew at half mast, were visibly upset while others stuck to the routine.
“I was in a meeting, which continued normally, but in the end when he broke up was nothing but sad to talk about Steve.” said Mike Peterson employee. “I know he loved airplanes so if he was going to go I think it was appropriate.”
Co-worker Melanie Wood said, “someone told me on my cubicle and then I read the email and we do not believe in the first place. He is so young, you don’t expect something like this “.
A GREAT LOSS:”Steve was a visionary and a true leader in our industry. He will be deeply missed by the entire Community and our thoughts and prayers semiconductors are with his family, “Brian Toohey, President of the semiconductor industry association, said in a statement.
Micron makes memory chips used in personal computers, smartphones and tablets and competes with Asian rival Hynix Semiconductor Inc, Samsung Electronics Co. Ltd. and Toshiba Corp.
Memory Chipmakers are scrambling as falling prices and large investments to stay competitive saddle them with massive losses. Micron is the last remaining U.S. producer of memory chips.
Boise Mayor Dave Bieter said Appleton was sensitive to how job cuts by Micron in recent years affected the community.
“He called me and told me about the layoffs coming and explained how the business end of chip technology would develop and that Micron would come out strong at the other end. And it happened exactly as he said he would “Bieter told reporters.
The company announced last week that he would retire in August Durcan, but death raised doubts of Appleton if it can get.
Seen as Micron’s top technologist even just keeled over, Durcan took a larger role running the chip maker daily in recent years, while Appleton larger than life has focused more on strategy.
The loss of dealmaker of Micron could waylay a possible takeover of troubled Japanese rival Elpida Memory. Elpida saddled with millions of dollars in operational losses and the future large debt payments may be in talks to be bought by Micron or come up with some kind of partnership, the media speculated recently.
RISKY LIFESTYLES
Death of Appleton raises questions behind?
