Micron Technology has announced that its president Mark Adams will resign for personal health reasons.
Adams will remain with the company until February 1st 2016, to support the transition.
Adams joined Micron in June 2006 and has served as president since February 2012.
“Mark has been a stellar leader and contributor to Micron's growth and success during his time with the company,” said Micron CEO Mark Durcan.
“We thank him for his dedication and service and wish him the very best with his recovery and into the future.”
The DRAM memory components and modules maker recently reported revenues for the first quarter of fiscal 2016 of $3.35 billion.
Revenues for the first quarter of fiscal 2016 were lower compared to the fourth quarter of fiscal 2015 primarily due to a 13 per cent decline in DRAM average selling prices, said the firm.
Non-Volatile trade revenues for the first quarter of fiscal 2016 declined two per cent compared to the fourth quarter primarily as a result of a seven per cent decline in average selling prices partially offset by an increase in sales volume.
"While conditions in some market segments are challenging, we believe long-term industry fundamentals are healthy, and we remain focused on the deployment of our advanced DRAM and 3D NAND technologies and products," said Durcan.