Insulet hires Stryker vet, reinstating commercial chief role as C-suite overhaul continues

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 manufacturer split the CCO function into two leadership positions. With CCO Bret Christensen leaving in connection with the reorganization, Insulet gave its international general manager, Patrick Crannell, a direct line to its CEO and created a new, equivalent role overseeing the U.S. At the time, Insulet said the U.S. manager would drive enhanced and consistent global commercial capabilities.

Crannell and Carolyn Sleeth, who joined Insulet as U.S. general manager in September 2023, still fill the two roles that replaced the CCO post. But under the leadership of Ashley McEvoy, the former Johnson & Johnson executive who became Insulet CEO last year, the company has decided it also needs a CCO. 

Insulet announced this week the appointment of longtime medtech veteran Mike Panos to fill the position. Panos previously spent 30 years at Stryker, ultimately rising to the post of sales excellence leader. Earlier in his career, Panos worked as Stryker’s president of the trauma and extremities division and president of North America and global R&D.

In a statement, McEvoy framed the appointment in the context of the “significant growth opportunity” for Insulet as it works to automate insulin delivery for Type 1 and Type 2 diabetes. McEvoy said Insulet is “implementing thoughtful strategies to strengthen our capabilities and structure to capture this opportunity,” including by hiring Panos.

The new CCO will oversee an expanded sales force that McEvoy said on an earnings call in February is more than 25% larger than Insulet’s nearest competitor. Insulet has grown its sales force and invested in direct-to-consumer advertising to develop the market for automated insulin delivery systems.

Panos’ appointment is part of broader changes to the C-suite under McEvoy’s leadership. Eric Benjamin, formerly Insulet’s chief product and customer experience officer, took the chief operating officer post in August. Along with Benjamin’s promotion, Insulet named Manoj Raghunandanan chief growth officer, a new position at the company.