KALAMAZOO (WKZO) -- Surprise and disappointment is the main reaction of national analysts to the sudden abrupt and unexplained resignation of Steven McMillan, the now former CEO, president and chairman at Stryker.
The company will only say his sudden and immediate departure is due to “family reasons.” Court records show that McMillan and his wife divorced in September. The reasons for that divorce are a private matter.
Most analysts say well managed companies usually prepare for the departure of their CEO’s over time and with a transition plan. They say this abrupt departure comes at a crucial time for the company when it is trying to integrate a number of other firms it recently purchased and has been diversifying its product line, directly under MacMillan’s leadership, and causes short term uncertainty among investors.
There were no indications that the board was displeased with the direction that MacMillan was taking the firm, in fact the company had just posted a 36% increase in revenue in the latest quarter.
