Politan outlines need for ‘truly independent board’ at Masimo

Politan Capital Management , an 8.9% shareholder of Masimo sent a letter to the company’s shareholders outlining why a majority of truly independent directors are urgently needed in the Masimo boardroom. Politan also released a detailed investor presentation making the case for change and why independent nominees – Darlene Solomon, former Chief Technology Officer of Agilent, and Bill Jellison, former Chief Financial Officer of Stryker – would bring critically needed expertise to Masimo’s Board of Directors. The full presentation can be found here. Additional information can be found on www.AdvanceMasimo.com. “Politan owns 9% of Masimo – an approximately $600M investment that makes us one of the Company’s largest shareholders. We invested in Masimo over two years ago because we believe in the Company’s tremendous promise. However, it has become clear that to protect shareholder value, let alone realize Masimo’s potential, the Company needs a majority of truly independent directors. This is why we have nominated to the Board Darlene Solomon, former Chief Technology Officer of Agilent, and Bill Jellison, former Chief Financial Officer of Stryker – two unquestionably independent nominees who bring crucial expertise needed in Masimo’s boardroom. We have made numerous efforts to avoid another proxy contest. Each of our settlement proposals has offered Mr. Kiani the opportunity to remain on the Board. Our offers still stand. Masimo has proposed to seat both Dr. Solomon and Mr. Jellison, but only if we agreed to a separation transaction on the terms that Mr. Kiani had sought earlier this year…”