Masimo (Nasdaq: MASI) announced today that it appointed Timothy Scannell and Wendy Lane to its board of directors.
The appointments go into effect immediately, expanding Masimo’s board to eight directors.
Last month, Masimo founder and CEO Joe Kiani resigned after activist investor Politan Capital Management ousted him as board chair. Kiani said before the vote that he planned to leave the company if he lost reelection to the board.
The Irvine, California-based device developer picked Michelle Brennan as interim CEO. Brennan is a current member of the Masimo board and former Johnson & Johnson executive who was central to the proxy battle that ultimately saw shareholders vote to seat its nominees.
Scannell brings more than 30 years of experience to the board at Masimo. He served as president and COO at Stryker from 2018 to 2021 and currently serves as a director and non-executive chair of Insulet’s board. He also has spots on the boards of Novocure, Regenity Biosciences, Synaptive Medical and CereVasc.
Lane has spent time on the boards of 16 companies over the past 32 years. She currently serves as chair of Lane Holdings, a private equity investment company, a role she first took up in 1992. She also serves as a director of Verisk Analytics, YourBio Health and CAC Holdings.
Quentin Koffey, lead independent director of Masimo, highlighted Scannell’s medtech experience and Lane’s experience overseeing corporate governance changes as significant additions to the board ahead of significant refocusing at the company.
“Both are high-caliber professionals who will bring critical perspectives to the board and possess expertise that closely aligns with our key focus areas. We look forward to working alongside Tim and Wendy as we capitalize on the exciting opportunities ahead for Masimo and position the company for continued growth,” Koffey said.