Tubeless Insulin Pump Technology Provider Insulet's CFO Resigns; Reaffirms Q3, FY23 Outlook
Portfolio Pulse from Lekha Gupta
Insulet Corp's CFO, Wayde McMillan, has resigned and will join 3M Company as CFO of its Health Care business. Insulet has appointed Lauren Budden as Interim CFO and Treasurer and has initiated a search for a permanent successor. Despite the resignation, Insulet reaffirmed its Q3 and FY23 revenue and margin outlook. PODD shares are trading lower by 1.15% premarket.
October 04, 2023 | 12:17 pm
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NEUTRAL IMPACT
3M Company will have Wayde McMillan, former CFO of Insulet, as CFO of its Health Care business, which it plans to spin off.
The appointment of a new CFO for 3M's Health Care business may bring some changes, but it's unclear how this will impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Insulet's CFO has resigned, but the company reaffirmed its Q3 and FY23 outlook. Shares are trading lower premarket.
The resignation of a CFO can create uncertainty, which may negatively impact the stock price in the short term. However, the company's reaffirmation of its financial outlook may mitigate some of this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100