Bill Hawkins' Tough Call
Bill Hawkins reached the top of his field in August 2007, when he became the CEO
of Medtronic, the world's largest medical device company (annual sales: $14.6
billion). But the pride and exhilaration of that moment would shortly give way to
the grim realities of leadership.
Just two months into his tenure, Hawkins learned that the Sprint Fidelis, a key
component in Medtronic's heart disease management business, might have the
potential to fail at a higher than average rate. The evidence was ambiguous, but
the stakes were devastatingly clear. Taking the device out of circulation would lay
waste to the company's profits. Leaving it just might cause people to
die.
It was the kind of choice that CEOs don't get to delegate. Follow this link for Hawkins' description, in his own words, of how he made
the most difficult decision of his career. We'll also tell you how the
decision affected the company and, for perspective, check Wall Street's view
of Medtronic today.