Summary by Futu AI
Micron Technology announced that Board Chair Robert Switz will retire at the annual shareholders meeting on January 16, 2025, after serving since 2006. The Board has unanimously elected CEO Sanjay Mehrotra as the new Board Chair and Lynn Dugle as Lead Independent Director, both effective upon Switz's retirement.Under Switz's leadership since 2012, Micron has increased revenues more than fivefold and introduced numerous industry-first products. He played a key role in recruiting Mehrotra as CEO in 2017. Since then, Mehrotra has transformed Micron into a technology leader, launching multiple generations of DRAM and NAND ahead of competitors.Lynn Dugle, who joined the Board in 2020, brings over 30 years of experience in defense, intelligence, and technology industries. She currently serves on Micron's Governance and Sustainability and Security Committees. The Board also approved an amendment to company bylaws allowing the number of directors to be set by Board resolution.