Jeannette Bankes will lead the company starting Nov. 16. Most recently president and CEO of GE HealthCare’s patient care solutions business, Bankes has also served as a senior vice president at Alcon and previously spent 14 years at Boston Scientific.
Sheridan has helmed Tandem since 2019, after joining the company as chief operating officer in 2013. He will continue to serve as a consultant during the transition.
“I’m not a spring chicken any longer,” Sheridan said on the company’s third-quarter earnings call. “I know I look like 60, but I’m 70, and I’ve got to make a decision at some point.”
Sheridan said the main items on his checklist before stepping down were setting up the wearable accessories that convert the company’s Mobi insulin pump into a tubeless automated insulin delivery system — as well as expanding Tandem’s business overseas and into pharmacy channels, and launching the development of a closed-loop device.
“As we entered 2026, I felt very confident that these things were moving in the right direction,” Sheridan said. “And we found an outstanding candidate with Jeanette Bankes. She’s got great experience as a leader of multiple medical technology companies for many years, and more importantly, she’s got a great cultural awareness that’s really important to our business, and she’s very mission driven.”
“I am excited to work alongside the talented people at Tandem to build on these strengths, advance the innovation pipeline and expand access to our technology,” Bankes said in a statement. “Through disciplined execution and a continued focus on customers, we can extend Tandem’s impact and deliver lasting value for the diabetes community and shareholders.”
Related: Tandem Diabetes Care terminates chief commercial officer
For the third quarter, Tandem posted 14% growth amounting to $283.7 million in worldwide sales, topping Wall Street’s estimate of $265.8 million.
That included $191.0 million from the U.S. for a 9% stateside gain, with nearly 23,000 pumps shipped. International revenues were up 27% on a constant currency basis, totaling $92.6 million and nearly 11,000 shipments.
On a net loss of $7.1 million, adjusted earnings-per-share landed at -10 cents, beating the consensus pick of -24 cents.
Tandem reaffirmed its guidance for the remainder of the year, forecasting total revenue landing between $1.065 billion to $1.085 billion — including U.S. sales of about $730 million to $745 million, and an international haul between $335 million and $340 million.
