Bill Hawkins' Tough Call

(MoneyWatch) 

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.

• "How I Made the Toughest Call of My Career"
• The Price Medtronic Paid
• Reality Check: How Wall Street Views Medtronic