C. Steven McMillan

AAA

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.

RELATED TERMS
  1. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  2. Israel Kirzner

    A preeminent Austrian economist and professor emeritus of economics ...
  3. Chairman

    An executive elected by a company's board of directors that is ...
  4. C-Suite

    A widely-used slang term used to collectively refer to a corporation's ...
  5. Chief Executive Officer - CEO

    The highest ranking executive in a company whose main responsibilities ...
  6. Chair Of The Board - COB

    The most powerful member on the board of directors who provides ...
Related Articles
  1. Insurance

    Evaluating The Board Of Directors

    Corporate structure can tell you a lot about a company's potential. Learn more here.
  2. Active Trading Fundamentals

    Evaluating A Company's Management

    Financial statements don't tell you everything about a company's health. Investigate the management behind the numbers!
  3. Markets

    Get Tough On Management Puff

    Company managers are often skilled at fooling investors. Be critical and don't believe the hype.
  4. Options & Futures

    Governance Pays

    Learn about how the way a company keeps its management in check can affect the bottom line.
  5. Entrepreneurship

    How Peter Thiel Became a Superstar

    A review of the career of legendary Silicon Valley entrepreneur and investor Peter Thiel.
  6. Investing

    PayPal Vs. Venmo: Function versus Fun

    PayPal and Venmo are both great services depending on what the customer wants.
  7. Investing Basics

    Why These Are the Most Valuable Brands of 2015

    A company's brand can be worth billions of dollars. Here are the most valuable global brands in 2015.
  8. Investing Basics

    The Most Successful Corporations In The U.S.

    These five iconic American brands epitomize corporate success.
  9. Investing

    The Right Mindset for CEO Success

    Owning the role of CEO is no simple task so it is imperative that CEOs have the correct mindset to ensure the success of their organization.
  10. Stock Analysis

    Are These America's 5 Best CEOs?

    Do great leaders lead to great investment opportunities? Here's a few to consider.
RELATED FAQS
  1. How are Rupert Murdoch's holdings distributed?

    Rupert Murdoch owns a controlling share of News Corporation and over 750 different businesses. Some of the major brands he ... Read Full Answer >>
  2. How did Bernard Baruch attain his wealth?

    Bernard Baruch obtained his fortune by investing in profitable stocks on Wall Street. Baruch is known as a legendary stock ... Read Full Answer >>
  3. Why was Bernard Baruch known as the "Park Bench Statesman?"

    As someone who preferred to conduct his meetings in informal settings and was led by persuasion rather than pressure, Bernard ... Read Full Answer >>
  4. How did Nathan Rothschild become a stock exchange speculator?

    Market maker Nathan Rothschild learned much of his financial savvy from his father, who dealt in coins and paper money. He ... Read Full Answer >>
  5. What advice does Howard Schultz offer would-be business moguls?

    Starbucks CEO, billionaire and former sports tycoon Howard Schultz has several pieces of advice for would-be moguls and, ... Read Full Answer >>
  6. Why did Howard Schultz leave Starbucks, only to return eight years later?

    Howard Schultz left Starbucks in 2000 due to exhaustion from growing Starbucks from a regional coffee chain to a global company ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Dog And Pony Show

    A colloquial term that generally refers to a presentation or seminar to market new products or services to potential buyers.
  2. Topless Meeting

    A meeting in which participants are not allowed to use laptops. A topless meeting organizer can also ban the use of smartphones, ...
  3. Hedging Transaction

    A type of transaction that limits investment risk with the use of derivatives, such as options and futures contracts. Hedging ...
  4. Bogey

    A buzzword that refers to a benchmark used to evaluate a fund's performance. The benchmark is an index that reflects the ...
  5. Xetra

    An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra ...
  6. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!