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Insulet CFO to step down to join 3M's healthcare business

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Insulet Corp said on Tuesday Wayde McMillan would step down as the medical device maker's chief financial officer, effective Oct. 20, to join 3M's healthcare business.

The 3M logo is seen at its global headquarters in Maplewood, Minnesota, U.S. on March 4, 2020. The company has been contracted by the U.S. government to produce extra masks in response to the country's novel coronavirus outbreak. Picture taken March 4, 2020. REUTERS/Nicholas Pfosi/File Photo

said on Tuesday Wayde McMillan would step down as the medical device maker's chief financial officer, effective Oct. 20, to join 3M's McMillan would join 3M as the financial chief of its healthcare business, which the U.S. industrial conglomerate plans to spin off into a listed company.Insulet also reaffirmed its annual forecast for sales of its insulin pumps and total revenue.

The company expects full-year revenue growth of 22% to 25%, compared with its previous forecast of 18% to 22% growth. It sees total sales growth of its insulin delivery devices, Omnipod, to be at 25% to 28%, compared with its previous projection of 21% to 25% rise.The Electric Reliability Council of Texas sought bids from power producers on Monday to increase its operating reserves by around 3,000 megawatts in case of any unexpected spikes in demand during the upcoming winter season.

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