Hologic will announce MacMillan’s successor once its acquisition is completed.
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Hologic President and CEO Stephen MacMillan will retire on Tuesday from the Marlborough-based medical device manufacturer, marking the end of a 12-year tenure highlighted by a 65% increase in annual revenue.
MacMillan plans to step down the day Hologic completes its $18.3-billion acquisition by multinational alternative asset managers Blackstone of New York City and TPG of San Francisco, the company announced Monday.
Hologic will announce MacMillan’s successor once its acquisition is completed.
“Leading Hologic has been the greatest honor and privilege of my career,” MacMillan said in the announcement.
MacMillan joined Hologic in December 2013 as president and CEO and was named chairman two years later.
During his tenure, MacMillan grew Hologic’s workforce by more than 1,500 employees to 7,300 worldwide, including more than 400 in Central Massachusetts.
MacMillan increased Hologic’s annual revenue by 65% over his 12 years. The company generated $4.1 billion in annual revenue for fiscal 2025.
MacMillan is the third-highest paid CEO in Central Massachusetts, having earned $15.81 million in total compensation in fiscal 2024, according to the WBJ Research Department. In 2018, he was among the highest-paid public company CEOs in the nation, having earned $42 million in total compensation, largely due to a $30-million retention grant Hologic gave him after a string of early successes in his tenure.
“He forged a dramatic turnaround shortly after joining the company, led us through years of consistent growth, drove our unprecedented response to the COVID pandemic, and is guiding us through a successful go-private transaction,” Amy Wendell, Hologic’s lead independent director, said in the announcement.
MacMillan’s retirement comes six months after Hologic announced in October it would be acquired by Blackstone and TPG. Under the purchase agreement, Hologic will keep its name and continue operations in Marlborough.
As of Monday morning, Hologic’s stock was trading at $76.01 per share on the Nasdaq, a 0.48% increase from its closing bid price on Friday.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
