2019 Power 50: Stephen MacMillan
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The board of directors at Hologic knows it has a star executive in MacMillan. Just look at the vote it took in 2017 to give him a $30-million bonus, just to keep other companies from luring him away. That and other awards and options gave MacMillan $42 million in compensation last year – making him the fifth highest-paid CEO in the entire country. His compensation offers one look into a medical device company that otherwise flies mostly under the radar but has grown considerably since MacMillan took over in 2013.
At that time, Hologic was $4 billion in debt, saddled with declining sales and had what the company called no meaningful products in the pipeline. In MacMillan's time leading Hologic, the company has seen revenue climb by 28%, hitting $3.2 billion last year. That success doesn’t look likely to end anytime soon. Hologic bought California breast health firm Focal Therapeutics last fall for $125 million, and the company has opened a training facility in Belgium as it looks to grow its European, Middle Eastern and African markets. MacMillan, a Harvard Business School graduate, previously led sBioMed, a biomedical research company, and had executive roles at two giants in the medical device field, Stryker Corp. and Johnson & Johnson.
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