BOISE, Idaho » The head of memory chip maker Micron long known for taking risks in stunt piloting died Friday when a small experimental plane he was piloting steeply banked, stalled and crashed near an Idaho runway.
Steve Appleton, 51, who survived a similar crash eight years ago and had a reputation as a hard-driving daredevil, was the only person aboard the plane when witnesses said it crashed shortly after its second takeoff attempt in Boise, according to safety investigators.
Appleton’s death was confirmed by Micron, and the company’s board planned to meet over the weekend to discuss its next steps. Corporate governance experts raised questions in the past about whether Appleton, as CEO, should be engaging in a hobby as risky as stunt piloting. The company’s shares have traded between $3.97 and $11.95 over the past year, and shares were up 23 cents at $7.95 Friday before trading was halted for the announcement.
"Steve’s passion and energy left an indelible mark on Micron, the Idaho community and the technology industry at large," Micron’s board of directors said in a prepared statement.
Micron is one of many companies that make semiconductor chips for various devices, including computers, mobile devices, cameras, cars and industrial systems. It makes products under the Lexar and Crucial brands and is one of Idaho’s largest and most influential employers.
In its latest fiscal year, which ended Sept. 1, Micron earned $167 million, or 17 cents per share, and had revenue of $8.8 billion.
Appleton’s death came one week after the company’s president and chief operating officer, D. Mark Durcan, announced plans to retire in August. Mark Adams, Micron’s vice president of worldwide sales, was named to succeed Durcan.
Micron spokesman Dan Francisco said Durcan is assuming the responsibilities of CEO until the company’s board appoints Appleton’s successor.