Medical technology company Masimo has announced significant changes in its executive leadership. On Wednesday, the company reported that CEO Joe Kiani has resigned from his position, effective immediately. Michelle Brennan, a current board member, has been appointed as the interim CEO. Following this news, Masimo’s stock saw a 6% increase, a notable performance given the slight decline in the S&P 500 index during the same trading session.
Michelle Brennan has been a member of Masimo’s board since 2023 and brings a wealth of experience from her time at healthcare giant Johnson & Johnson. Throughout her over 30-year career, she has held various senior executive roles and successfully scaled multiple businesses to achieve market-leading growth, in addition to leading efforts in innovation that resulted in successful product launches.
Masimo also announced that Darlene Solomon and Bill Jellison, who were elected at the company’s most recent annual meeting, have officially joined the board of directors.
In response to the interim nature of Brennan’s appointment, Masimo’s board has commenced a search for a permanent CEO. The company has enlisted the services of the executive search firm Korn Ferry to assist in this process.