By Ben Glickman

Insulet Corp. Chief Financial Officer Wayde McMillan will step down to join 3M's Health Care business, which will be spun off.

The Acton, Mass.-based tubeless insulin pump maker said Tuesday McMillan would step down Oct. 20 and would be succeeded by Chief Accounting Officer Lauren Budden on an interim basis. She previously served as accounting chief at privately held Gulf Oil.

Budden joined Insulet in April 2019, according to the company. A search for a permanent successor to McMillan has begun.

McMillan is the latest hire for the soon to be separated healthcare spinoff. 3M named Bryan Hanson, an executive from musculoskeletal company Zimmer Biomet Holdings, as chief executive of the new business in August. Healthcare industry veteran Carrie Cox will become chairman.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 03, 2023 16:53 ET (20:53 GMT)

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