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.

BREAKING DOWN '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. Food Industry ETF

    An exchange-traded fund that invests in food and beverage companies, ...
  2. Diversified Company

    A company that has multiple, unrelated businesses. Unrelated ...
  3. Brand Identity

    Brand identity is the way a business wants consumers to perceive ...
  4. Connie Lee - College Construction ...

    A formerly government-sponsored enterprise created by the Higher ...
  5. Brand

    A distinguishing symbol, mark, logo, name, word, sentence or ...
  6. Brand Management

    A function of marketing that uses techniques to increase the ...
Related Articles
  1. Insurance

    Futures Fundamentals: Strategies

    Essentially, futures contracts try to predict what the value of an index or commodity will be at some date in the future. Speculators in the futures market can use different strategies to take ...
  2. Economics

    How Leadership Impacts Investments

    Investors often overlook a company’s leadership when evaluating an opportunity, but it’s an important quality to consider.
  3. Sectors

    Consumer Staples Sector: Industries Snapshot (KO, PEP)

    Explore the six largest industries in the consumer staples sector. Learn about the competitive landscape, growth outlook and largest companies in each industry.
  4. Economics

    Understanding Product Lines

    A product line is a group of related products manufactured by the same company.
  5. Options & Futures

    Stock-Picking Strategies: Qualitative Analysis

    Fundamental analysis has a very wide scope. Valuing a company involves not only crunching numbers and predicting cash flows but also looking at the general, more subjective qualities of a company. ...
  6. Professionals

    America's Top CEOs and Their College Degrees

    You might expect all of America's top CEOs to have a business degree from an Ivy League school, but they hail from a variety of academic backgrounds.
  7. Entrepreneurship

    Top 4 Billionaires Living in Korea

    Take a closer look at four of South Korea's most influential billionaires, a group of people that happens to include the chairmen of Samsung and Hyundai.
  8. Investing

    Famous Chains That Began As Mom-And-Pop Stores

    Even the largest chains in the world started with a single location. Here are examples of famous brands that have humble beginnings as mom-and-pop stores.
  9. Entrepreneurship

    The Power Of Branding

    It's the ultimate economic moat, and we look at the approaches and effects of good and bad branding.
  10. Markets

    Why Do Companies Care About Their Stock Price?

    There are several reasons a company may care about keeping a high and rising price.
RELATED FAQS
  1. What are the primary risks an investor should consider when investing in the food ...

    Understand some of the various risk factors investors should consider when seeking investment opportunities in the food and ... Read Answer >>
  2. What countries are driving most of the growth of the food and beverage sector?

    Learn about the countries, primarily emerging market nations, that are currently driving most of the growth in the food and ... Read Answer >>
  3. What is the historic average annual return of the food and beverage sector?

    Examine the current state of the food and beverage sector, along with learning the historical average annual returns for ... Read Answer >>
  4. What metrics are commonly used to evaluate companies in the food and beverage sector?

    Discover what some of the most commonly used performance metrics are that investors use to evaluate companies in the food ... Read Answer >>
  5. What is the average debt/equity ratio for the food and beverage sector?

    Find out more about the categories in the food and beverage sector and the average long-term debt-to-equity ratio for the ... Read Answer >>
  6. What profit margin is usual for a company in the food and beverage sector?

    Learn which profit margin is common for a company in the food and beverage sector based on different statistical measures ... Read Answer >>
Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center