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Masimo founder resigns as CEO after removal from board
Some interesting news regarding Masimo, the company that is locked in disputes with Apple over its patents for blood oxygen sensors that has led to that feature being removed from the Apple Watch i…
Masimo said on Wednesday founder Joe Kiani has decided to step down as the medical device maker’s CEO, days after shareholders voted to remove him from the company’s board following a bitter proxy battle with activist hedge fund Politan Capital Management. The company named veteran healthcare executive, Michelle Brennan, as interim chief. Bloomberg’s excellent financial columnist Matt Levine has some extra analysis about the series of steps that could lead to a founder and board chair to completely lose control—it involves unhappy shareholders and freezing out a board you disagree with.
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