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Hologic, Inc. (HOLX) CEO Steve MacMillan’s Take on Carl Icahn

Hologic, Inc. (NASDAQ:HOLX), a medical device and diagnostics manufacturer, saw an unprecedented increase in investors’ interest, after the billionaire activist investor, Carl Icahn, purchased a 12.5% stake in the company last November. Icahn also asked Hologic, Inc. (NASDAQ:HOLX)’s board to include two of his nominees, expanding the size of the board.

ICAHN CAPITAL Carl Icahn

Steve MacMillan, President and CEO of Hologic, Inc. (NASDAQ:HOLX) has discussed on CNBC about Icahn’s stake in the company and his style of functioning.’

“You know what; he [Carl Icahn] has actually been very good. I would say he has a very simple model, which is create shareholders’ value, which frankly is what our other large shareholders looked at and I think a lot of people looked at this company and thought it has tremendous assets, but was being effectively undervalued and I think we have been totally focused. I have done here what I have done my whole career, which is build great teams, raise the bar on expectations, focus on innovation and then the shareholder value creation starts to come […],”  MacMillan said.

Macmillan revealed that Icahn focuses little on things like technology and other business aspects, instead his main focus is on whether the Company that he has stakes in has the right management team in place. He also shared that when Icahn saw a new technology he asked Macmillan if he can make it better.

“I think it’s the sixth sense and I think it’s a belief in at the macro level are you focusing on the right things, but clearly not a micromanager and not into our shorts at all,” MacMillan added.

 According to our records, Carl Icahn’s Icahn Capital owns 34.15 million shares of Hologic, Inc. (NASDAQ:HOLX) as of the end of the first quarter of 2014.

Disclosure: None

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