Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.
Bad executives can run their companies into the ground. Look no further than General Electric (GE) and Sears Holdings (SHLD) for proof of that. But great CEOs, like Miles White of Abbott Labs (ABT) , can turn a company into a powerhouse.
White took the helm at Abbott in 1999 and during his 19-year tenure has delivered a 623% gain, taking into account the company's many spinoffs. That turned a $1,000 investment in 1999 into $7,230 today.
How was White able to accomplish this feat? Cramer explained that White has a remarkable talent for anticipating what people's medical needs will be, then aggressively positioning his company to meet those needs.
Abbott's sold $16 billion worth of its main drug, Humira, last year, making it one of the best-selling drugs ever created. When Abbott's drugs weren't being fully appreciated by Wall Street, White spun off Abbvie (ABBV) in 2013 to make sure that value was realized. More recently, Abbott acquired medical device maker St. Jude in anticipation of what will likely be a coming boom in medical devices.
Cramer said good management is always the key to success in any industry, which is why he's spotlighting White's value-creating abilities.
Over on Real Money, Cramer says the outcome of any turnaround plan depends on who's at the helm. Look at Cisco (CSCO) and Walmart (WMT) . Get more on his insights with a free trial subscription to Real Money.
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