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.

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