In this article MASI Follow your favorite stocks CREATE FREE ACCOUNT Founder and CEO of Masimo, Joe Kiani addresses a press conference in Bangalore on January 2, 2017. Manjunath Kiran | AFP | Getty Images Despite voting for change at last year's annual meeting, shareholders in medical device maker Masimo have seen their governance concerns go largely unresolved, according to activist investor Politan Capital Management. With just a month until the 2024 annual meeting, Politan, which has already won two board seats, is looking to go further.
Led by Quentin Koffey, Politan has nominated two further directors to the company's board, and says that without their election, management will continue to operate without oversight. Masimo founder and CEO Joe Kiani says if shareholders vote him out, he won't come back. "This is shareholders' last chance at meaningful change," Politan wrote in a letter to Masimo shareholders on Wednesday, laying out its case to investors ahead of the meeting.
A copy of the letter and attached presentation was obtained by CNBC. Masimo, best known for its successful patent litigation over the Apple Watch, was initially targeted by Politan last year due to what the activist viewed as bad management, a lack of independent board leadership and a flawed acquisition that took the company away from its core business. watch now VIDEO 4:06 04:06 Apple Watch sales pause not a huge deal 'quantitatively or qualitatively': LightShed's Walter Piecyk Squawk Box Swayed by.
