Micron’s Appleton to relinquish corner office

Big changes are afoot at Micron Technology Inc. [MU], which has been struggling in the wake of a downturn in the hyper-cyclical dynamic random access memory chip market. According to a Monday note issued by Lazard Capital Market’s Daniel Amir, longtime Micron CEO Steve Appleton is planning to step down.

Appleton, an avid stunt plane flier and 25-year veteran of the DRAM chipmaker, has led the charge to help Micron diversify away from its volatile core market via several big acquisitions and partnerships, including the $815 million acquisition of Lexar Media Inc. last year and a NAND flash partnership struck with Intel Corp. [INTC] in 2006.

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