8-KLeadership ChangesCorporate ChangesOther Events+1

MICRON TECHNOLOGY INC 8-K Report, Executive Changes (Feb 10, 2006)

Filed February 10, 2006For Securities:MU

Summary

Micron Technology, Inc. (MU) filed an 8-K on February 10, 2006, primarily to update its historical financial reporting to align with a new two-segment business structure: Memory and Imaging. This change makes the historical data presented in their Annual Report consistent with their recent quarterly reporting and future disclosures. The company also announced changes to its Board of Directors, appointing Dr. Teruaki Aoki and Mr. Robert Switz to specific committees, which necessitated an increase in the authorized number of directors from seven to nine. Additionally, the filing includes a press release announcing the appointment of Mark Durcan as Chief Operating Officer and other executive officers. Investors should note that this 8-K focuses on retrospective adjustments for reporting consistency and executive appointments, rather than new operational or financial performance data subsequent to the Annual Report. The document also introduces a footnote regarding "Call Spread Options" within its consolidated financial statements.

Key Highlights

  • 1Micron Technology is restating historical financial data to reflect a new two-segment reporting structure: Memory and Imaging.
  • 2The updated segment reporting ensures consistency between the Annual Report (FY 2005) and recent quarterly filings.
  • 3Dr. Teruaki Aoki and Mr. Robert Switz have been appointed to the Board of Directors and relevant committees (Governance and Compensation, and Audit, respectively).
  • 4The company increased its authorized board size from seven to nine directors to accommodate these new appointments.
  • 5Mark Durcan has been appointed as Chief Operating Officer (COO), along with other executive officer changes announced via press release.
  • 6A new footnote regarding "Call Spread Options" has been added to the consolidated financial statements.
  • 7This 8-K is primarily for reporting and structural adjustments, not for announcing new material events or performance updates beyond the Annual Report's scope.

Frequently Asked Questions

Micron is filing this 8-K primarily to present historical financial information for its fiscal year ended September 1, 2005, in a manner consistent with its recently adopted two-segment reporting structure (Memory and Imaging). This ensures continuity with its latest quarterly reports and future filings.

The two reportable business segments are "Memory" and "Imaging."

Yes, the Board of Directors appointed Dr. Teruaki Aoki and Mr. Robert Switz. The company also announced the appointment of Mark Durcan as Chief Operating Officer and other executive officers via a press release.

No, this 8-K mainly provides revised segment reporting for historical data (fiscal year 2005) to ensure consistency. It does not include new financial performance results subsequent to the date of the Annual Report on Form 10-K.