Activist investor says Masimo’s Joe Kiani ousted from board

Activist investor Politan Capital stated it gained two seats on the board of the $6bn medical machine firm Masimo on Thursday, the newest twist in a gruelling two-year boardroom battle that ranks amongst one of many costliest in historical past.

Masimo’s founder and chief government Joe Kiani and one other director misplaced their seats to 2 candidates put ahead by activist investor Quentin Koffey, in line with a preliminary vote rely by Politan’s advisers. 

“Whereas every of us is unbiased and brings our personal distinctive views, we’re united in our enthusiasm for Masimo’s future,” Politan’s 4 administrators, who now management a majority, stated in an announcement.

Masimo declined to remark. Kiani, who based the medical machine firm 35 years in the past, is prone to step down as CEO.