Insulet CEO Shacey Petrovic Steps Down

Shacey Petrovic has decided to step down as CEO of Insulet Corporation for personal family reasons, effective June 1. She will continue to serve on the company’s board, and serve as an advisor.
 
Taking her place on June 1 will be Jim Hollingshead, Ph.D., ResMed’s president of Sleep and Respiratory Care.
 
“It has been an honor to serve as Insulet’s CEO and to have been part of this remarkable team for more than seven years,” Petrovic told the press. “After careful consideration over some time, I have made the very difficult decision to reduce my professional obligations in light of family medical issues and other circumstances that have been impacting those I care about. I am extremely proud of what we have accomplished in my time as CEO. We have made significant strides to improve the lives of people with diabetes, while enhancing Insulet’s ability to innovate and operate with excellence. Insulet is well positioned for the full U.S. commercial launch of Omnipod 5, and poised for continued growth and impact for shareholders and the diabetes community. I remain deeply committed to Insulet and the Company’s long-term success and I look forward to continuing as a Director on the Insulet Board and as an advisor to Jim and the management team.”
 
Petrovic added, “I have never been more excited or confident about Insulet’s future prospects. I know Jim well from our service on the Insulet Board together and am delighted that he is the one to step into the role of CEO at this important time. I know the Company will be in great hands under Jim’s leadership. With an outstanding team of employees committed to advancing our mission and strategic imperatives, and delivering for our Podders and shareholders, I am confident Insulet is poised for continued growth and even greater success.”
 
Petrovic has been Insulet’s president and CEO since January 2019, and member of the board since September 2018. She joined Insulet in 2015 serving in various leadership positions including COO, chief commercial officer, and president of diabetes products.
 
Under her leadership, Insulet exceeded $1 billion annual revenue, its sixth year of 20% or more revenue growth. Petrovic’s tenure culminated in the FDA clearance and commercialization on Omnipod 5, a tubeless, automated insulin delivery system with compatible smartphone control.
 
Timothy Scannell, Board Chair of Insulet, commented, “Shacey has elevated Insulet and fostered a winning culture with her unique vision and commitment to excellence, and thousands of Podders and their families are living happier, healthier lives as a result. On behalf of the Board, I extend my sincere and deep gratitude for all that she and the team have achieved in her time as CEO, which is nothing short of remarkable, and we look forward to continuing to benefit from her insight and expertise through her continued service to our Board and in her advisory role.”
 
Scannell continued, “As Insulet approaches the full U.S. commercial launch of Omnipod 5—the greatest and most complex innovation Insulet has brought to market in its 20-plus year history—the Board and I are pleased to have someone of Jim’s caliber to take the reins at this important and exciting time. Jim knows our Company, our culture, and our executive leadership team exceptionally well, which will immediately serve Insulet well and ensure a smooth transition. Jim brings significant experience at the rapidly evolving crossroads of medical technology and digital solutions, as well as a clear track record of success at ResMed and a broad understanding of the biotech and life sciences landscape. This unique skillset has made him an incredibly valuable independent director over the past three years, and we are confident his deep and differentiated healthcare experience, and proven leadership ability, will make him an outstanding CEO at Insulet.”
 
“I am very excited to have the opportunity to take on the role of CEO for Insulet next month, and I am grateful for the support of Shacey and the Board in entrusting me to lead Insulet’s next chapter,” said Dr. Hollingshead. “Shacey and I have built a terrific working relationship over the last three years, and I’m very pleased that she has agreed to stay on our Board, and that she will continue to advise me and the management team during our transition. Under Shacey’s remarkable leadership, Insulet has continuously grown by creating innovations that significantly improve the lives of people with diabetes, which is a legacy that we will continue to build on. Thanks to the hard work of the Insulet team to bring Omnipod 5 to life, and the increasing adoption of wearable technology by the diabetes community, the Company is on the cusp of a period of spectacular growth and impact. I am eager to hit the ground running, capitalizing on Insulet’s unique capability to deliver life-changing technology for customers around the world, and to drive significant value for shareholders.”