C. Steven McMillan

Definition of 'C. Steven McMillan'


A former CEO of Sara Lee from 2000 to 2005. Sara Lee sells frozen and packaged foods, including baked goods, beverages and meat, along with household products such as body care, shoe care, insecticides and detergents. McMillan took over at a time when the company was struggling, and under his executive leadership, he worked to streamline the company's 200-plus brands. Nonetheless, the company's revenue and operating income declined as the company faced competition from low-cost imports and inexpensive store brands.

Investopedia explains 'C. Steven McMillan'


Another setback McMillan experienced was the result of his decision to acquire the baked-goods company EarthGrains. The move was unpopular with investors because they were unhappy with the price paid for the company and because anticipated gains from the decision never materialized. He was also the subject of a sexual discrimination lawsuit in 2004.

McMillan was born in 1946 and earned an MBA with honors from Harvard Business School. In addition to Sara Lee, he has been a board member with Aero Toy Store, Inc., Bank of America, Monsanto, Electrolux, Illinova and Pharmacia & Upjohn.



comments powered by Disqus
Hot Definitions
  1. Degree Of Financial Leverage - DFL

    A ratio that measures the sensitivity of a company’s earnings per share (EPS) to fluctuations in its operating income, as a result of changes in its capital structure. Degree of Financial Leverage (DFL) measures the percentage change in EPS for a unit change in earnings before interest and taxes (EBIT).
  2. Jeff Bezos

    Self-made billionaire Jeff Bezos is famous for founding online retail giant Amazon.com.
  3. Re-fracking

    Re-fracking is the practice of returning to older wells that had been fracked in the recent past to capitalize on newer, more effective extraction technology. Re-fracking can be effective on especially tight oil deposits – where the shale products low yields – to extend their productivity.
  4. TIMP (acronym)

    'TIMP' is an acronym that stands for 'Turkey, Indonesia, Mexico and Philippines.' Similar to BRIC (Brazil, Russia, India and China), the acronym was coined by and investor/economist to group fast-growing emerging market economies in similar states of economic development.
  5. Pension Risk Transfer

    When a defined benefit pension provider offloads some or all of the plan’s risk – e.g.: retirement payment liabilities to former employee beneficiaries. The plan sponsor can do this by offering vested plan participants a lump-sum payment to voluntarily leave the plan, or by negotiating with an insurance company to take on the responsibility for paying benefits.
  6. XW

    A symbol used to signify that a security is trading ex-warrant. XW is one of many alphabetic qualifiers that act as a shorthand to tell investors key information about a specific security in a stock quote. These qualifiers should not be confused with ticker symbols, some of which, like qualifiers, are just one or two letters.
Trading Center