Press release
Masimo Nominee Christopher Chavez Would Bring Fierce Independence, Exemplary Medtech CEO Experience to Masimo Board
Chavez’s Independence Stands in Stark Contrast to Politan’s Paid and Handpicked Nominees IRVINE, Calif.--(BUSINESS WIRE)-- Masimo Corporation (“Masimo” or
About this update from Masimo Corporation
[{"type":"text","content":"\nChavez’s Independence Stands in Stark Contrast to Politan’s Paid and Handpicked Nominees\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMasimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI) today issued a letter to stockholders in connection with the Company’s 2024 Annual Meeting of Stockholders. The letter highlights the fierce independence and deep medtech experience of nominee Christopher Chavez and contrasts it to Politan’s handpicked and paid nominees. Masimo believes that ceding control of Masimo to Politan by electing its nominees would jeopardize the value of your investment in Masimo. The Board encourages stockholders to vote FOR Masimo’s highly qualified director nominees, Joe Kiani and Christopher Chavez.\n\n\nFind more information on why your vote is so important to the future of Masimo at www.ProtectMasimosFuture.com. The full text of the letter to our stockholders can be found here:\n\n\nDear Fellow Masimo Stockholders:\n\n\nMasimo’s Board has a duty to stockholders to share its views on the nominees proposed for election at this year’s annual meeting. The three of us signed below, constituting all the non-Politan directors, have led public companies as CEOs and senior executives and served on public company boards for many years. Through our service, we have seen how directors can be effective and value additive for stockholders in the boardroom. Most critically, we understand that every boardroom needs robust discussion and a healthy, open dialogue and believe that stockholders should have representatives with the experience, expertise and independence to provide objective counsel to management. That is why we nominated Christopher Chavez, and why we believe Politan’s nominees are clearly inferior to ours.\n\n\nWhat we find most disappointing, and troubling, is that Politan’s central argument to cede control of Masimo to Politan is the “refusal by Masimo to permit independent oversight.” It appears to us that Politan is repeating a false narrative over and over in the hopes that stockholders will believe it to be true. It is simply not the case that having met Joe Kiani in the past, whether at an industry event, on the opposite side of the negotiating table, or at a civic function, compromises the independence of our directors, creates an obligation to him or interferes with their duty to provide oversight. T...