Activist Investors: Friend or Foe?

MacMillan Spills the Beans (and Gives Bob Iger a Wake-Up Call)

In a recent chat with Yahoo Finance, Stephen MacMillan, the CEO of Hologic and Chairman of Illumina, spilled the beans on his experiences with activist investors like Carl Icahn. He dropped some knowledge on how to handle these folks and even had some words of advice for Disney's CEO, Bob Iger.

According to MacMillan, the key is to actually listen to what activists have to say instead of immediately going into defensive mode. He argued that too many boards view activism as a bad thing instead of recognizing that there's usually a valid reason behind it, like underperformance in certain areas. MacMillan's strategy? Open those ears and try to think like an activist.

When it comes to dealing with the likes of Icahn, MacMillan took a rather refreshing approach. Instead of locking horns and getting defensive, he sat down with Icahn, chatted things out and helped him understand different aspects of the businesses. And you know what? It worked. Icahn actually believed in strong CEOs and gave MacMillan the support he needed.

Now, MacMillan's got some advice for Iger. He's saying it's high time Disney gets serious about succession planning. MacMillan thinks the board has really dropped the ball on this one and that they've been kicking the can down the road. Iger needs to find someone worthy to hand the company over to, and wants to ensure a smooth transition.

All in all, MacMillan's approach to dealing with activists is all about listening, engaging in constructive discussions, and having the humility to recognize that there might be flaws that need addressing. And let's not forget the importance he places on proper succession planning. It's all about setting up a company for long-term success. Bust out those listening skills and get ready to pass the torch, Iger!

#activism