Insulet CFO to step down
Photo | Courtesy of Insulet
Insulet's headquarters in Acton
The CFO of Insulet, an Acton medical device firm, will step down from his role on Oct. 20.
Wayde McMillan, CFO, treasurer, and executive vice president at the company is departing to join Minnesota-based 3M as CFO of its healthcare business division, according to a Tuesday press release from Insulet. 3M announced it plans to spin the healthcare division into its own independent business.
Lauren Budden, Insulet’s group vice president, chief accounting officer and controller, will assume the role of interim CFO and treasurer in addition to her current role while a permanent replacement is found. Budden has been with Insulet since 2019, according to the press release.
McMillan informed the company of his impending departure on Sept. 29, according to a filing with the U.S. Securities and Exchange Commission. The company has initiated its search process for a permanent CFO replacement, according to the press release.
“It has been an honor to be a part of Insulet and work alongside such a talented team to deliver on our mission. I am extremely proud of all that we have accomplished together and the progress we’ve made growing the company. This was a difficult personal decision for me, but also an opportunity to take on new challenges at a large medical device company at a unique time in its evolution. I am confident that Insulet is extremely well positioned to continue driving growth, profitability, and value creation,” McMillan said in the press release.
Since Wednesday’s market close, Insulet’s stock price is down 4.23% on the Nasdaq as of Thursday morning, coming in at $145.64 per share. Its decrease is larger than the 0.73% notch-down on the S&P 500.
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