John Miclot could have taken the
wheel as president and CEO at
Respironics Inc. in 2003 and put the
company on cruise control, allowing
the natural trajectory and financial
strength of the perennially solid performer to carry it along at its historically brisk pace. After all, in 2006,
Respironics passed the $1 billion
annual revenue mark, not much of a
surprise for a company that had
enjoyed sustained growth and profitability over most of its existence.
But Miclot viewed sticking with the status quo as the biggest risk of all for the
company. So instead, he chose to take
some chances to make a stellar company even better by leveraging its
financial strength and challenging its
managers to take entrepreneurial
chances.
Recognizing that energizing a successful company to take risks and venture beyond its comfort zones would
not be easy, Miclot shifted Respironics
from a product-focused company to a
market-focused company, encouraging
employees to look into marketplaces
to find unmet needs to generate new
businesses. He encouraged the creation of new business units, brought in
new talent where it was needed and
sought out strategic acquisitions that
would diversify the company and
spread the risk over a wider array of
business segments.
To keep the process moving, Miclot
established a leadership development
program that evaluates those in key
leadership positions and puts together
a plan to bolster their skills where
required. And to ensure that there is
talent that can step up when required,
a succession plan prepares those coming up the ladder.
HOW TO REACH: Respironics Inc., www.respironics.com
