The 3M logo is seen at its global headquarters in Maplewood, Minnesota, U.S. on March 4, 2020. The company has been contracted by the U.S. government to produce extra masks in response to the country’s novel coronavirus outbreak. Picture taken March 4, 2020. REUTERS/Nicholas Pfosi/File Photo Acquire Licensing Rights
Companies Insulet Corp Follow
3M Co Follow
Oct 3 (Reuters) – Insulet Corp (PODD.O) said on Tuesday Wayde McMillan would step down as the medical device maker’s chief financial officer, effective Oct. 20, to join 3M’s (MMM.N) healthcare business.
McMillan would join 3M as the financial chief of its healthcare business, which the U.S. industrial conglomerate plans to spin off into a listed company.
3M expects to complete the planned spinoff, which it disclosed last year, by the end of 2023.
Insulet also reaffirmed its annual forecast for sales of its insulin pumps and total revenue.
The company expects full-year revenue growth of 22% to 25%, compared with its previous forecast of 18% to 22% growth. It sees total sales growth of its insulin delivery devices, Omnipod, to be at 25% to 28%, compared with its previous projection of 21% to 25% rise.
Reporting by Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles.
Insulet CFO to step down to join 3M’s healthcare business
