Masimo CEO Kiani resigns after board ouster, shares jump
25/09/2024 14:36
** Shares of medical device maker Masimo MASI.O up 5.3% at
$132.77 in early trading
** Company says CEO Joe Kiani has decided to resign days
after shareholders voted to remove him from the board
** Kiani had founded Masimo in 1989
** MASI names board member Michelle Brennan as interim CEO
effective immediately
** Last week, MASI's shareholders elected both director
candidates proposed by veteran activist investor Quentin
Koffey's hedge fund Politan Capital Management
** MASI on Wednesday says it has formally appointed the two
director candidates, Darlene Solomon and Bill Jellison, proposed
by Politan to its board
** Up to Tuesday's close, stock had risen nearly 8% YTD
(Reporting by Ananya Mariam Rajesh in Bengaluru)
((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))