Masimo CEO Joe Kiani ousted from board; Politan wins two seats

Activist investor Politan Capital has won two board seats at medical technology company Masimo, defeating founder and CEO Joe Kiani and another director at a shareholder vote. The company’s shares rose over 2% in extended trading following the news. Politan’s nominees Darlene Solomon and Bill Jellison, along with two previous board members, will work to make Masimo an even greater company. The extended proxy fight involved a legal battle, with Masimo suing Politan and vice versa. The victory for Politan may lead to the departure of CEO Kiani and operating chief Bilal Muhsin. Both have stated they would quit if Kiani was ousted from the board.