Robert Chapek Steps Down from Masimo Board of Directors
On Friday, Masimo Corporation (Nasdaq: MASI) informed the Securities and Exchange Commission (SEC) that current board member Robert Chapek has submitted his resignation from the Masimo Board of Directors. His resignation will take effect on the date of the 2025 annual meeting, the schedule for which is yet to be determined.
Chapek was appointed to the Masimo Board in January 2024, with filings by Politan Capital Management suggesting that he was specifically chosen by former CEO Joe Kiani. The SEC filing clarified that Chapek’s decision to resign was not a result of any disagreements with Masimo on operational, policy, or practice matters.
In addition to his responsibilities as a board member, Chapek also served on the Audit Committee, from which he has now stepped down. He will remain in his roles on the board and the committee until the 2025 Annual Stockholders Meeting date is set, typically in the summer.
Robert Chapek had a tenure of 26 years at Disney before joining the Masimo Board, where he served as Chief Executive Officer for approximately two years until he was replaced by Bob Iger. At Masimo, Chapek’s time with the company was relatively short, spanning about 18 months.
While not classified as a legacy director due to his recent appointment, Chapek’s alignment with founder and former CEO Joe Kiani was evident. Upon joining the Masimo Board, Chapek actively engaged in negotiations with activist investor Quentin Koffey of Politan to prevent a proxy war at the 2024 annual meeting, a tactic that ultimately did not succeed in dissuading Koffey from introducing additional board candidate nominations.
Chapek’s resignation was described as voluntary and final. The official resignation letter, as attached to the filing, reflected this decision.
In conclusion, the resignation of Robert Chapek from the Masimo Board of Directors marks a significant development within the company’s governance structure. His departure comes after a relatively short tenure at Masimo following a long and distinguished career at Disney. Going forward, Masimo will need to appoint a replacement for Chapek to maintain a fully functioning board and oversight structure.
