Dexcom CEO Kevin Sayer will step down after leading the diabetes tech company for a decade. Current Chief Operating Officer Jake Leach will become CEO on Jan. 1, 2026, and join the firm’s board of directors, according to a Wednesday announcement.
Sayer will help with the transition and remain executive chairman of Dexcom’s board of directors.
Sayer said in a statement that the decision was the result of the board’s succession planning and confidence that Leach is the right leader to continue the company’s growth.
“There is nobody that I trust more than Jake to lead the company into the future,” Sayer told investors on a Wednesday earnings call.
Leach has worked at Dexcom for 21 years, since the company launched its first product. He served as chief technology officer from 2018 to 2022 before he was named COO in late 2022. He was given the title of president in May.
Dexcom, which makes continuous glucose monitors, has faced growing competition in the sector, as Abbott expands integrations with automated insulin delivery systems and the Food and Drug Administration authorizes longer-lasting implantable sensors. Dexcom and Abbott last year launched the first over-the-counter glucose sensors.
BTIG analyst Marie Thibault said Leach’s appointment is not a surprise, as he has been promoted multiple times and has become more visible to investors.
J.P. Morgan analyst Robbie Marcus added that the change had been telegraphed for some time. Still, “there’s always some nervousness following the retirement of a long-time CEO,” Marcus wrote. “Especially one that has transformed a company and product category while creating significant shareholder value like Kevin did.”
When asked about his vision for Dexcom as a new CEO, Leach said he is looking to expand global access to the company’s devices.
“We're seeing good progress in our growth globally, but there's so much more to do in terms of gaining access for people around the globe that could benefit from our technology,” Leach said.
Leach also listed continued innovation as a priority, with a focus on features that benefit the Dexcom’s users as the company reaches a broader group of people.
At the end of Wednesday’s call, Sayer reiterated that he will still be involved with Dexcom for the next five months and plans to set up the company’s new leaders for success.
“I’m not riding the retirement wave out of here,” Sayer said.
Editor’s note: This article has been updated with additional details and comments from analysts.
