Boise, ID - Micron CEO, Mark Durcan, was named to Bloomberg's list of Tech's Top Turnaround Artists - - Click here to read the full article, or read the excerpt below:
Tech's Top Turnaround Artists
By Bloomberg Rankings and Marcus Chan - Oct 17, 2013 6:20 PM MT
Most Names Won't Ring a Bell
For Microsoft or any technology company looking for a change in leadership, here's our list of chief executives who, since taking over, have helped their companies' stocks go from laggards to outperformers.
A couple of the names you'll recognize. Most of them you won't. That's because many of the CEOs who made our top 20 run companies that don't come close to the size of Microsoft, which has a market value of about $290 billion. The majority of them also aren't in consumer tech.
But based on the methodology of Bloomberg Rankings, which examined stock performances before and after the current CEOs took the helms, these largely unknown executives have overseen some of the biggest turnarounds in tech shares.
See who made the list. And if you decide to hire any of them, don't worry. We'll waive the finder's fee.
For the full list, click here.
12. Mark Durcan, Micron Technology
Before: Micron's total return was down 23.6 percent in the two years before the company announced Mark Durcan would be the new CEO. By comparison, the S&P 500's total return was 25 percent during that same period.
After: Since Durcan's appointment in February 2012, Micron's stock had a total return of 126.6 percent as of Oct. 11. By comparison, the S&P 500 had a total return of 34.4 percent during the same period.
Durcan, who was promoted to the top job last year when his predecessor Steve Appleton died in a plane crash, oversaw Micron's acquisition of Japanese rival Elpida Memory. The deal has created optimism that Micron, and the computer memory industry in general, is in a better position to handle the market's wild swings that have made profitability difficult to sustain.
Underscoring that, Micron recently reported only its second quarterly profit in the last nine periods.