Insulet has reinstated the chief commercial officer position nearly three years after eliminating the role to pursue more focused regional and local market execution.
In May 2023, the insulin pump maker split the CCO function into two leadership positions. Following the departure of CCO Brett Christensen in connection with the reorganization, Insulet created a new equivalent role overseeing the U.S. with International General Manager Patrick Crannell reporting directly to the CEO. At the time, Insulet said its U.S. managers would drive enhanced and consistent global commercial capabilities.
Mr. Crannell and Carolyn Sleeth, who joined Insulet in September 2023 as U.S. General Manager, continue to serve in dual roles replacing the CCO post. But under the leadership of Ashley McEvoy, a former Johnson & Johnson executive who became CEO of Insulet last year, the company decided it also needed a CCO.
Insulet announced this week that it has named longtime medical technology veteran Mike Panos as his successor. Mr. Panos previously spent 30 years at Stryker, ultimately rising to the position of sales excellence leader. Earlier in his career, Mr. Panos served as President of Stryker’s Trauma and Extremities Division and President of North American and Global R&D.
In a statement, McEvoy described the appointment in the context of a “significant growth opportunity” for Insulet, which is working to automate insulin delivery in type 1 and type 2 diabetes. McEvoy said Insulet is “implementing thoughtful strategies to strengthen our capabilities and structure to seize this opportunity,” including hiring Panos.
The new CCO will oversee the expansion of the sales force, which McEvoy said on an earnings call in February is more than 25% larger than Insulet’s closest competitors. Insulet has expanded its sales force and invested in direct-to-consumer advertising to develop the market for automated insulin delivery systems.
Mr. Panos’ appointment is part of broader changes to the executive team under Mr. McEvoy’s leadership. Eric Benjamin, formerly Insulet’s chief product and customer experience officer, became chief operating officer in August. Along with Benjamin’s promotion, Insulet has appointed Manoj Raghunandanan to a new role at the company, Chief Growth Officer.
