Masimo shareholder Politan nominates two independent candidates to board

Politan Capital Management , Politan Capital Management an 8.9% shareholder of Masimo Corporation announced that it is nominating two candidates for election to the Masimo Board of Directors at the upcoming 2024 Annual Meeting of Stockholders . Quentin Koffey, Managing Partner and Chief Investment Officer of Politan, and a current director on the Masimo Board, stated: “When shareholders overwhelmingly elected Michelle Brennan and me to the Masimo Board last year, we were optimistic we could work productively with the rest of the Board to drive positive change. Unfortunately, our efforts were continually rebuffed, as Chairman & CEO Joe Kiani refused to give us basic information, denied us access to management, repeatedly held Board meetings excluding us, and refused to even consider allowing any review of capital allocation or strategy. Politan supports a strategic review to evaluate a separation of the Consumer Business as evidenced by our ongoing efforts over the last 18 months. However, at this stage the Board has been provided zero details, and Politan has serious concerns given the lack of basic governance and oversight we have observed since joining the Board. Information is controlled tightly by the Chairman & CEO and almost never shared.