Masimo Corporation (NASDAQ: MASI) recently announced the addition of Timothy J. Scannell and Wendy E. Lane to the company's board of directors, expanding the board to eight members. Timothy Scannell, who brings over 30 years of experience from his leadership roles at Stryker Corporation, will add valuable medical technology expertise to the board. Wendy Lane, who has served on the boards of 16 companies over the past 32 years, will bring her extensive experience in finance and corporate governance to her new role.
Scannell, the former President and Chief Operating Officer of Stryker Corporation, will leverage his expertise in leading highly successful commercial organizations in the medical technology sector to benefit Masimo. Additionally, he currently serves as a director and non-executive chairman of the board of directors for Insulet Corporation and as a director on the board of Novocure Limited.
Lane, who has extensive experience overseeing corporate governance changes and serving in board leadership roles, has sat on and/or chaired seven audit committees, as well as compensation, nominating/governance, strategic alternatives, and other committees. She currently serves as a director of Verisk Analytics, Inc., YourBio Health, Inc., and CAC Holdings, LLC.
The appointments of Scannell and Lane are expected to bring critical perspectives to the board and align with the company's key focus areas. Their expertise will be highly beneficial as Masimo refocuses its organization and capitalizes on opportunities for continued growth.
Masimo Corporation is a global medical technology company that develops and produces industry-leading monitoring technologies, patient monitors, and automation and connectivity solutions. The addition of Scannell and Lane to the board of directors reflects Masimo's commitment to leveraging diverse expertise to drive innovation and achieve its mission of improving patient outcomes and reducing the cost of care. The market has reacted to these announcements by moving the company's shares 1.2% to a price of $144.66. For the full picture, make sure to review Masimo's 8-K report.