Activist investor Politan Capital said it had won two seats on the board of $6 billion medical device company Masimo on Thursday, the latest twist in a The two-year boardroom battle was grueling. ranked as one of the most expensive projects in history.
Masimo founder and CEO Joe Kiani and another director lost their seats to two candidates nominated by activist investor Quentin Koffey, according to preliminary votes cast by Politan’s advisers.
“While each of us is independent and has our own views, we are united in our enthusiasm for the future of Masimo,” the four Politan directors, who now hold a majority, said in a statement.
Masimo declined to comment. Kiani, who founded the medical device company 35 years ago, is likely to step down as CEO.
