Insulet CEO Jim Hollingshead Resigns, Ashley McEvoy To Succeed; Raises Q1 Guidance

(RTTNews) - Insulet Corp. (PODD), a medical device company, on Monday announced that Chief Executive Officer Jim Hollingshead has resigned from the Board of Directors. Additionally, the company's Board has appointed Ashley McEvoy as President and CEO, and a member of the Board of Directors.

After a mutual decision with the Board, McEvoy will replace Jim Hollingshead as Insulet's CEO, effective April 28.

Hollingshead will serve as a consultant to support a smooth leadership transition.

Ashley McEvoy, with three decades of experience in the healthcare sector and had previously worked with Johnson & Johnson's MedTech business and Vision and Diabetes Care.

Looking ahead, the tubeless insulin pump technology company, expects its first-quarter revenue to surpass earlier guidance and plans to raise its full-year outlook.

According to the previous statement on February 20, the company had expected revenue growth of 22 to 25% for the quarter ending March 31.

Due to the management transition, the company has postponed its Investor Day, which was set for June 5, and will reschedule it for a later date.

In the pre-market trading, Insulet is 0.27% lesser at $260 on the Nasdaq.