Insulet CFO McMillan to step down

Insulet (PODD) announced that Wayde McMillan has decided to step down from his role as Executive Vice President, Chief Financial Officer and Treasurer, effective October 20, 2023. McMillan will join 3M (MMM) as Chief Financial Officer of its Health Care business, which 3M has announced it plans to spin off into an independent company. Lauren Budden, Group Vice President, Chief Accounting Officer and Controller, will assume the additional responsibilities of Interim CFO and Treasurer until a permanent successor is appointed. Ms. Budden joined Insulet in April 2019 and is a seasoned executive with more than 25 years of finance and accounting experience. Insulet has initiated a search process to identify the Company’s next CFO. “Wayde has been a trusted partner to me and an excellent leader of our global finance team, helping to advance our mission of improving the lives of people with diabetes,” said Jim Hollingshead, President and Chief Executive Officer. “Wayde has helped make our Company stronger and more resilient, ensuring we have the capabilities and financial strength to capitalize on the tremendous long-term growth opportunities Insulet is pursuing. On behalf of the Board and our entire team, I thank Wayde for his many contributions and wish him well in his future endeavors.” The Company is also reaffirming its previously announced Total Omnipod and Total Company revenue guidance for the third quarter and full year 2023, and gross margin and operating margin guidance for full year 2023, as outlined in Insulet’s second quarter 2023 earnings announcement on August 8, 2023.