Insulet CFO Leaves for Same Role at 3M Health Care Spinoff

Insulet, developer of Omnipod tubeless insulin pump technology, announced its executive VP, CFO, and treasurer Wayde McMillan has decided to step down effective October 20. McMillan is joining 3M as CFO of its Health Care business, which 3M plans to spin off into an independent company.
 
Lauren Budden, group VP, chief accounting officer, and controller will serve as interim CFO and treasurer until a permanent replacement is named. Budden joined Insulet in April 2019.
 
“Wayde has been a trusted partner to me and an excellent leader of our global finance team, helping to advance our mission of improving the lives of people with diabetes,” Insulet’s president and CEO Jim Hollingshead told the press. “Wayde has helped make our Company stronger and more resilient, ensuring we have the capabilities and financial strength to capitalize on the tremendous long-term growth opportunities Insulet is pursuing. On behalf of the Board and our entire team, I thank Wayde for his many contributions and wish him well in his future endeavors.”
 
McMillan added, “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, and I look forward to watching the company’s continued success.”
 
Hollingshead concluded, “We are fortunate to have someone of Lauren’s caliber step into the role of Interim CFO. Lauren is highly regarded throughout our Company and has extensive knowledge of our financials and global operations. We are confident that Lauren, with the support of our experienced finance team, is well equipped to support the continued execution of our strategic priorities.”