Coppersmith Presentation to Alere Inc Stockholders
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Alere's Nominees: Redundant Experience & Questionable Judgment
Steve MacMillan
COPPERSMITH
"One factor in sBiomed's favor, MacMillan acknowledges, was a dearth of other attractive options. There's definitely a little bit
of a cloud,' he says. There were some opportunities that didn't surface for me because of how I left. It pains me to say that but
it's true."" - Bloomberg BusinessWeek, 11/2/12, describing how Mr. MacMillan found his current role at sBiomed
▪ Mr. MacMillan was Chairman & CEO of Stryker Corp until his resignation under questionable circumstances in 2012
> It has been widely reported that Mr. MacMillan's resignation was provoked by his relationship with an employee3⁹
We understand there is more truth to the multiple news stories reporting that his resignation was prompted by the loss of
confidence in his leadership by members of Stryker's board 3⁹
> He also resigned that same month from the only other public company board on which he served
> While his departure was reported as "for family reasons" and treated as a "termination without cause", he was
nonetheless stripped of his unvested options which had a fair market value of nearly $6mm³9
We believe this would be a highly unusual step for a truly amicable departure
> We note that Mr. MacMillan has had no role, executive or board level, at a publicly-traded company in the 17 months since
his departure from Stryker - His current role is as the CEO of sBiomed, LLC a small private disinfectant company located
in UtahView entire presentation