NEW YORK, July 12 (Reuters) - Proxy advisory firm Glass

Lewis recommends that Masimo ( MASI ) shareholders elect activist

investor Politan's two proposed candidates to the medical device

maker's five-member board, according to a report reviewed by

Reuters.

"We believe investors should endorse the election of

(William) Jellison and (Darlene) Solomon at this time," the

report said, arguing the current board is to blame for failures

at the company, including its tumbling stock price.

"The existing board remains obdurately committed to legacy

oversight methodologies which have consistently enabled and

amplified poor governance architecture, wide operational misses,

nil-return strategic excursions, seemingly de minimis

accountability and, ultimately, a lax commitment to

acknowledging and addressing profound damage to shareholder

value," the report said.

This marks the second time in two years that Politan has

proposed board candidates. Last year shareholders elected its

two suggested directors, including the firm's founder, hedge

fund manager Quentin Koffey.

Masimo's ( MASI ) stock price has tumbled 24% over the last 52 weeks.

Glass Lewis and its bigger rival Institutional Shareholder

Services influence how investors vote on critical issues

including proposed mergers and who sits on the board with their

recommendations. ISS has not yet issued its report on Masimo ( MASI ).

Shareholders will vote on July 25 unless the two sides find

a compromise beforehand.