Insulet Names Former J&J Executive Ashley McEvoy as New CEO

Insulet Corporation, a leading manufacturer of insulin delivery systems, has appointed Ashley McEvoy as its new President and Chief Executive Officer, effective immediately. McEvoy, who previously led Johnson & Johnson's worldwide medtech business, succeeds Jim Hollingshead, who has stepped down after serving as CEO since 2022.

Leadership Transition and Strategic Direction

The leadership change comes at a critical juncture for Insulet as it seeks to expand its commercial reach in both Type 1 and Type 2 diabetes markets. McEvoy brings nearly three decades of healthcare leadership experience to the role, having most recently served as J&J's worldwide chairman of medtech from 2018 to late 2023.

Insulet's Board Chairman, Timothy Scannell, praised McEvoy as a "world-class leader" with a "sophisticated understanding of the medtech market and a passion for improving lives." The company's board conducted an extensive search for a dynamic executive capable of driving Insulet's next phase of growth and innovation.

In her comments, McEvoy expressed enthusiasm for Insulet's mission, citing personal experiences with diabetes care and the company's potential to revolutionize the field. She stated, "Insulet has massive, untapped growth potential, a talented team, unparalleled pharmacy channel access and manufacturing capabilities, and deeply loyal customers—remarkable differentiators and a strong foundation for continued success."

Insulet's Market Position and Recent Developments

Insulet has been riding a wave of success with its Omnipod 5 tubeless insulin delivery system. In a significant milestone last year, the device became the first automated insulin pump to receive FDA approval for use in adults with Type 2 diabetes. This expansion opens up a potential market of over 6 million users, including approximately 2.5 million people who require multiple daily insulin injections.

The company's financial performance reflects its strong market position, with reported revenue of $2.1 billion in 2024, marking a 22% year-over-year increase. Insulet has indicated that it expects to raise its previous forecast of 16% to 20% revenue growth for 2025, with more details to be shared in its upcoming May 8 earnings call.

Industry Implications and Future Outlook

McEvoy's appointment is expected to bring a new level of strategic vision to Insulet. During her tenure at J&J, she oversaw more than $22 billion in acquisitions and led the company's entry into new markets such as heart failure and vision care, as well as the development of a robotics business.

As Insulet continues to innovate in diabetes care technology, the company faces both opportunities and challenges. The growing prevalence of diabetes worldwide presents a significant market opportunity, while competition in the insulin delivery space remains fierce. McEvoy's experience in navigating complex healthcare markets and driving innovation is likely to be crucial in maintaining Insulet's growth trajectory and market leadership.

The company has postponed its annual investor day meeting, originally planned for early June, to allow for the leadership transition. This move suggests that McEvoy and her team may be reassessing strategic priorities and planning to present a updated vision for Insulet's future in the coming months.