Masimo Names Interim CEO As Activist Board Members Step In; Joe Kiani Exits Amid Legal Clash
Portfolio Pulse from Nabaparna Bhattacharya
Masimo Corporation (NASDAQ:MASI) has appointed Michelle Brennan as interim CEO following Joe Kiani's resignation amid legal disputes. The company's shares rose by 5.55% as it reiterated its financial guidance for FY24 and announced board changes. Masimo is also reviewing strategic alternatives for its consumer businesses.
September 25, 2024 | 4:22 pm
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Masimo's shares rose 5.55% following the appointment of Michelle Brennan as interim CEO after Joe Kiani's resignation amid legal disputes. The company reiterated its FY24 guidance and is reviewing strategic alternatives for its consumer businesses.
The appointment of a new interim CEO and the ongoing legal issues involving the former CEO, Joe Kiani, are significant developments for Masimo. The company's reiteration of its financial guidance and strategic review of its consumer businesses are positive signals for investors, contributing to the stock's rise.
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IMPORTANCE 80
RELEVANCE 100