Masimo undergoes leadership change: Stock reacts positively

The medical technology company Masimo announced significant changes to its board of directors on Wednesday, which were positively received by investors. The company's stock rose by 6% on a day when the S&P 500 slightly declined. Masimo's CEO, Joe Kiani, announced his resignation, after which board member Michelle Brennan assumed the role of interim CEO. The change takes effect immediately. Brennan appears to be a wise choice. She has been on Masimo's board since 2023 and has extensive experience in the medical devices division of Johnson & Johnson, where she held various leadership positions. Masimo emphasizes that Brennan has successfully led multiple businesses to market-leading growth in her career and initiated innovation projects that resulted in successful product launches. Additionally, Masimo announced that Darlene Solomon and Bill Jellison, who were elected at the last annual general meeting, have officially taken their seats on the board. Since Brennan's role as CEO is temporary, Masimo's board of directors has engaged the renowned executive search firm Korn Ferry to assist in finding a permanent CEO.