Insulet (PODD) CEO Sullivan Named Chairman; Other Exec Changes Made

October 19, 2016 4:04 PM EDT

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Insulet Corporation (Nasdaq: PODD) announced changes to the responsibilities of key members of its Board of Directors and Management team:

  • Patrick Sullivan, President and Chief Executive Officer since September 2014, has been elected Chairman of the Board. He will continue to serve as Chief Executive Officer.
  • Dr. Jessica Hopfield, Director since July 2015, has been appointed Lead Independent Director of the Board. Dr. Hopfield succeeds Dr. John Fallon, who will continue to serve on the Board as an independent director. Dr. Hopfield also serves as Chairperson of the Board of Trustees of the Joslin Diabetes Center and is a strategic advisor and investor in start-up healthcare firms. She previously was a partner of McKinsey & Company in their Global Pharmaceuticals and Medical Devices Practice.
  • Shacey Petrovic, President, Diabetes Products since February 2016, after joining the Company as Chief Commercial Officer in February 2015, has been promoted to President and Chief Operating Officer. In this position, she will work closely with Mr. Sullivan to further improve Insulet’s operational capabilities and capitalize on new growth opportunities, and will be responsible for overseeing the Company’s Drug Delivery product line.
  • Daniel Levangie, President, Drug Delivery, has informed the Company he will retire at the end of 2016. Ms. Petrovic will assume Mr. Levangie’s responsibilities and Mr. Levangie will continue with the Company through the end of the year to assist with an effective transition. He will then remain available to the Company in a consulting role.

Patrick Sullivan, Chairman and Chief Executive Officer, stated, “I am pleased the Board has appointed Dr. Jessica Hopfield as Lead Independent Director and I thank Dr. John Fallon for his service. As the newly elected Chairman, I look forward to working closely with Jessica, John and our fellow Board members to continue advancing Insulet’s growth and success.”

“I am also excited to promote Shacey to her new position of President and Chief Operating Officer,” said Mr. Sullivan. “Since joining Insulet, she has demonstrated tremendous leadership, overseeing the realignment of our commercial operations, a reset of our product development roadmap and record-breaking commercial results. The further expansion of Shacey’s management responsibilities recognizes her valuable skillset and the meaningful contributions she is making to Insulet’s growth. We believe the Company will benefit from a unified approach to developing insulin and non-insulin commercial opportunities for our technology platform and Shacey is the ideal person to oversee this initiative.”

Mr. Sullivan continued, “Dan has been an invaluable member of the Insulet team, leading the drug delivery business through a time of transition and overseeing the development of a long-term strategy for the franchise. His contributions have significantly advanced our drug delivery business and through his roles on the senior leadership team and previously as a member of our Board of Directors, Dan has helped shape our overall Company strategy and organization. On behalf of the entire Board and management team, I thank Dan for his commitment to Insulet and wish him all the best.”

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