SAN DIEGO — ResMed announced this morning that Kieran T.
Gallahue has resigned his position as president and CEO, and as a
director, effective Jan. 28. He leaves to become chairman and CEO
of San Diego-based CareFusion, a medical technology company that
focuses on the hospital sector.
ResMed's board has appointed Dr. Peter C. Farrell, founder and
executive chairman, to serve as interim CEO and president "as long
as needed," according to a company release. The giant sleep therapy
manufacturer "does not anticipate any material change in strategy
or operations as a result of this management change," the release
stated.
Farrell founded ResMed in 1989, and has been chairman since that
time. He also currently serves as chairman of the Executive Council
of the Division of Sleep Medicine at Harvard Medical School and on
faculty advisory boards at the University of California San
Diego.
"Kieran's resignation came as a surprise but we wish him well,"
Farrell said. He added that "stepping back into the CEO role will
not be a novelty for me and will ensure continuity for the team.
The market for sleep-disordered breathing continues to bring
forward enormous opportunities, and I am as excited as I have ever
been about ResMed's future."
Last week, the company announced record financial results
for its second quarter and six months ended Dec. 31. Revenue for
the quarter was $306 million, an 11 percent increase over the same
quarter in 2009, while revenue grew 13 percent to $588 million for
the six months.
Gallahue, 47, joined ResMed in January 2003 as president and COO
of the Americas, was promoted to global president and COO in
September 2004 and has served as CEO and
director since January 2008. During his tenure, the company
grew revenue approximately 500 percent to $1.2 billion.
At CareFusion, Gallahue will succeed David L. Schlotterbeck, who
had previously announced plans to retire later this month. The
company offers products including Alaris IV pumps, Pyxis automated
dispensing systems and AirLife, AVEA and LTV ventilators and
respiratory products, among others. (See "Cardinal
Health Spins Off Tech Business" for more on CareFusion.)
