Micron Expansion On Track Chip Maker Says Ceo’s Departure Won’t Affect Growth Plans

Micron Technology Inc., one of just two U.S.-based computer memory chip makers, said Friday its expansion plans will not be affected by the surprise departure of chief executive Steve Appleton.

Appleton resigned Thursday apparently at the behest of the company’s biggest shareholder, potato billionaire J.R. Simplot.

The Boise-based company would not disclose more details about the change but said it would proceed with its capital expansion, including a $2.5 billion factory under construction in Utah.

Simplot, who owns 20 percent of Micron, told The Idaho Statesman in Boise that Appleton “took it like a man.” Simplot did not elaborate in the article published Friday.

Simplot could not be reached for comment Friday. But in a statement he praised Appleton as a “solid professional” and “good friend” and expressed confidence in new chief executive Tyler Lowrey.

Simplot ousted Appleton’s predecessor, company founder Joe Parkinson, in September 1984 reportedly over concerns that Micron was expanding too fast.

The company has since begun a $4 billion capital expansion to keep pace with growing demand and new chip technology. But some nervousness crept up at Micron in recent weeks as memory prices began to decline for the first time in two years.

Micron’s Utah plant was on an accelerated construction schedule until recently when the company pulled back. A decision on how much equipment to put in for initial production won’t be made until later in the year.