ACTON, Mass.--(BUSINESS WIRE)--Jan. 7, 2019--
Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global
leader in tubeless
insulin pump technology with its Omnipod® Insulin
Management System (Omnipod System), today announced that Wayde McMillan
has been appointed Executive Vice President and Chief Financial Officer,
effective March 1, 2019, succeeding Michael Levitz. To ensure a smooth
and successful transition, Mr. McMillan will join the Company in
February and Mr. Levitz will continue with the Company in an advisory
capacity for a period following the succession effective date.
Mr. McMillan is a seasoned executive with more than 20 years of
corporate finance and accounting experience. Over the course of his
career, he has developed expertise in strategic financial planning and
business development at both multi-billion dollar public companies and
entrepreneurial start-up ventures. Most recently, Mr. McMillan served as
Chief Financial Officer and Vice President of Finance of the Minimally
Invasive Therapies Group at Medtronic, where he played a key role in
integration efforts following the company’s acquisition of Covidien plc
in 2015, including reorganizing into the Medtronic Group structure and
developing a new global financial plan and strategy.
“We are excited to welcome a leader of Wayde’s caliber to Insulet as the
Company transitions to profitability, expands internationally, and
enters its next phase of rapid growth,” said Shacey Petrovic, President
and Chief Executive Officer. “Wayde has significant expertise scaling
large organizations and a thorough understanding of the strategies we
are pursuing globally to accelerate growth and build on our strong
foundation. We look forward to benefitting from Wayde’s experience as we
continue to position the Company for long-term success and solidify our
leadership in the global management of diabetes.”
“I am honored to join the team at Insulet, a company with a strong
mission dedicated to improving the lives of people impacted by
diabetes,” said Mr. McMillan. “I look forward to working alongside the
Insulet leadership team and contributing to the Company’s initiatives to
drive growth, profitability and value creation for shareholders.”
Ms. Petrovic continued, “On behalf of the Board of Directors and the
entire Company, I want to thank Mike Levitz for his numerous
contributions, as well as his support during this transition period.
Over the last four years, Mike has helped develop and execute our
strategic imperatives, strengthen our infrastructure and capabilities in
support of future growth, and generate exceptional value for
shareholders. We wish Mike all the best in his future endeavors.”
The Company is reaffirming its previously announced revenue guidance for
the fourth quarter and full year 2018, which were outlined in Insulet’s
third quarter 2018 earnings announcement.
About Wayde McMillan:
Wayde McMillan is a seasoned executive who brings to Insulet more than
20 years of corporate finance and accounting experience. Most recently,
Mr. McMillan served as Chief Financial Officer and Vice President of
Finance of the Minimally Invasive Therapies Group at Medtronic, where he
managed an $8 billion revenue business with greater than 20,000
employees and a global Finance team. He played a critical role in
integration efforts following the company’s acquisition of Covidien plc
in 2015, including reorganizing into the Medtronic Group structure and
developing a new global financial plan and strategy. Prior to
Medtronic’s acquisition of Covidien, he held a variety of leadership
positions at Covidien, including Chief Financial Officer and Vice
President of Finance of the Medical Devices Group & U.S., Chief
Financial Officer and Vice President of Finance of the Surgical
Solutions Business Unit, and Vice President of Finance and Controller of
the Respiratory and Monitoring Solutions Business Unit. Mr. McMillan
started his career in accounting, audit, financial analysis and investor
relations positions at various institutions. He holds a B.S. in Business
Administration from Merrimack College and an MBA from the Bentley
University McCallum Graduate School of Business.
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD), headquartered in Massachusetts, is
an innovative medical device company dedicated to making the lives of
people with diabetes and other conditions easier through the use of its
Omnipod product platform. The Omnipod Insulin Management System provides
a unique alternative to traditional insulin delivery methods. With its
simple, wearable design, the disposable Pod provides up to three days of
non-stop insulin delivery, without the need to see or handle a needle.
Insulet also leverages the unique design of its Pod, by tailoring its
Omnipod technology platform for the delivery of non-insulin subcutaneous
drugs across multiple therapeutic areas. Founded in 2000, more than
150,000 users across the globe rely on Insulet’s Omnipod Insulin
Management System to bring simplicity and freedom to their lives.
On July 1, 2018, Insulet assumed direct operations of its Omnipod
Insulin Management System product line in Europe, including sales,
marketing, training and customer support activities. This allows Insulet
to be closer to the diabetes community and identify opportunities to
support European customer needs over the long-term, as Insulet does in
the United States and Canada.
For more information, please visit: www.insulet.com
and www.myomnipod.com.
Forward-Looking Statement:
This press release may contain forward-looking statements concerning
Insulet's expectations, anticipations, intentions, beliefs or strategies
regarding the future. These forward-looking statements are based on its
current expectations and beliefs concerning future developments and
their potential effects on Insulet. There can be no assurance that
future developments affecting Insulet will be those that it has
anticipated. These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond its control) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, and other risks and uncertainties described
in its Annual Report on Form 10-K, which was filed with the Securities
and Exchange Commission on February 22, 2018 in the section entitled
"Risk Factors," and in its other filings from time to time with the
Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should any of its assumptions prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. Insulet undertakes no
obligation to publicly update or revise any forward-looking statements.
© 2019 Insulet Corporation. Omnipod and the Omnipod logo are trademarks
or registered trademarks of Insulet Corporation. All rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190107005236/en/
Source: Insulet Corporation
Investor Relations and Media:
Deborah R. Gordon,
978-600-7717
Vice President, Investor Relations and Corporate
Communications
dgordon@insulet.com
