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.

  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

    Top 3 Most Successful African Entrepreneurs

    Discover the educational backgrounds and entrepreneurial ventures of some of the most successful and well-known African entrepreneurs.
  6. Entrepreneurship

    Top 3 Most Successful French Entrepreneurs

    Learn about some of the most famous and successful entrepreneurs who either hail from France or have chosen to relocate to France as their home.
  7. Entrepreneurship

    Top 6 Most Successful European Entrepreneurs

    Understand what makes European entrepreneurs successful. Learn about six European entrepreneurs who have found great success in terms of their net worth.
  8. Insurance

    Warren Buffett: The Road To Riches

    Find out how he went from selling soft drinks to buying up companies and making billions of dollars.
  9. Entrepreneurship

    Top 3 Most Successful Australian Entrepreneurs

    Learn interesting biographical information about some of the most famous and successful entrepreneurs who are originally from Australia.
  10. Investing News

    A CEO as U.S. President: What's the Disconnect?

    Can business leaders effectively lead the country's highest office? Next year may mark the first time that we'll find out.
  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. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  2. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  3. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  4. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  5. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  6. Cost Of Funds

    The interest rate paid by financial institutions for the funds that they deploy in their business. The cost of funds is one ...
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!