Insulet Corp has announced that its Chief Financial Officer, Wayde McMillan, will step down from his role on October 20th, 2023, to take on a new position within 3M’s healthcare business.
McMillan is set to become the financial chief of 3M’s healthcare unit, which is in the process of being spun off as a publicly listed company by 2023’s end. This unit specializes in wound care, oral care, and healthcare technology.
Joining 3M’s Healthcare Business
3M had previously disclosed its intention to execute this spinoff, and they are on track to finalize it by the close of 2023.
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In a separate statement, Insulet (NASDAQ:PODD) reiterated its annual sales forecast for its insulin pumps and total revenue. In August, the company had raised its growth projections, anticipating a revenue increase of 22% to 25% and total sales growth for its insulin delivery devices, Omnipod, ranging from 25% to 28%.
Interim CFO Named
Lauren Budden, Insulet’s accounting chief, will assume the interim role of CFO until a permanent successor is named.
In extended trading, shares of Insulet saw a 1.4% increase.
Disclaimer: Please note that this article serves solely for informational purposes. Thus, must not construe as financial advice. We advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
