Masimo announced on September 25, 2024, that Joe Kiani, the company's founder and CEO, decided to resign from his position. This decision came days after shareholders voted to remove him from the company's board, following a contentious proxy battle.
Michelle Brennan, a current member of Masimo’s Board, has taken on the role of interim Chief Executive Officer. This leadership transition marks a new chapter for Masimo, with the board now having a stronger influence on the company's future strategy.
Kiani filed a claim in California state court relating to his employment agreement, seeking declaratory relief that he had validly terminated his employment for 'Good Reason.' The board later formally adopted resolutions to terminate his employment, reinforcing the leadership change.
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