Glass Lewis recommends Masimo shareholders vote for Politan director nominees

Politan Capital Management an 8.9% shareholder of Masimo Corporation, announced that leading proxy advisory firm Glass, Lewis & Co. has recommended shareholders vote FOR the election of Politan’s nominees, Darlene Solomon and Bill Jellison, to the company’s Board of Directors at the Annual Meeting of Stockholders, scheduled for July 25, 2024. Glass Lewis’s report resoundingly affirms that change is urgently needed at this Annual Meeting, stating: “…(W)e believe the most exigent near-term impetus supporting the election of Mr. Jellison and Dr. Solomon is the need to ensure a thorough and independent assessment of the prospective separation of the consumer segment.” Glass Lewis details Masimo’s poor governance and continued underperformance, describing Masimo’s analysis as “disturbing,” “deeply concerning” and seeking to “accept little to no accountability for significant losses suffered by shareholders.” Quentin Koffey, Managing Partner and Chief Investment Officer of Politan, stated: “We appreciate Glass Lewis’s support for both of our nominees – Darlene and Bill – and the validation of our belief that true independent oversight is needed on Masimo’s Board. Fundamentally, Glass Lewis’s report confirms our view that the arguments, excuses and attacks put forth by Mr. Kiani and his affiliated directors lack credibility and should be viewed warily by shareholders. If elected, we are confident that Darlene and Bill would work constructively in the boardroom during this critical period to safeguard shareholder value and help ensure the Company is positioned to realize its full potential.”