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Stephen MacMillan

Hologic Names Ex-J&J Exec to COO Post

Medical device maker Hologic Inc appointed a former Johnson & Johnson executive as chief operating officer, three months after naming a new chief executive and striking a deal with activist investor Carl Icahn.Hologic, which makes screening tests for cancer and other diseases, also announced the planned retirement of Chief Financial Officer Glenn Muir, who has served in the position since 1992.Eric Compton, who will immediately assume the newly-created COO role, also worked with consumer giant Procter & Gamble Co , and has a record of successfully turning around flagging businesses, Hologic said in a statement.The company has been struggling with cuts in hospital spending, a lack of reimbursement for one of its mammography systems, and its troubled $3.75 billion acquisition and integration of Gen-Probe Inc."We believe these senior management changes are positive steps toward turning Hologic around after numerous pricey acquisitions and in light of several secular headwinds to growth," ...

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