In what could become a new twist in the ongoing patent dispute over the Apple Watch’s Blood Oxygen sensor, the CEO of Masimo, the plaintiff company that has thus far been successful in its case against Apple,

Masimo said on Wednesday founder Joe Kiani has decided to step down as the medical device maker's CEO, days after shareholders voted to remove him from the company's board following a bitter proxy battle with activist hedge fund Politan Capital Management.

Former Masimo CEO Joe Kiani may have won the war against Apple, but he has resigned after losing a fight with a hedge fund.

Masimo CEO Joe Kiani may have waged and won a patent dispute against Apple over its blood oxygen sensor, he has stepped down after losing a battle with hedge fund Politan Capital Management.

Masimo stock jumped Wednesday after Chief Executive Joe Kiani resigned. But, importantly, the company's other executives stayed on board.

Masimo today confirmed the resignation of founder and CEO Joe Kiani after last week's shareholder vote ousted him as board chair.

Masimo Corp shareholders elected both director candidates proposed by veteran activist investor Quentin Koffey's hedge fund Politan Capital Management, in one of the most contentious boardroom battles of the year.

Apple and Masimo have been battling it out in court after the company specializing in health technologies managed to