{"id":29027,"date":"2023-01-27T05:10:14","date_gmt":"2023-01-27T05:10:14","guid":{"rendered":"http:\/\/myanmarnewswire.com\/?guid=6381bcb44ee78bf18f97099123d7a084"},"modified":"2023-01-27T05:10:14","modified_gmt":"2023-01-27T05:10:14","slug":"resmed-appoints-michael-farrell-as-chair-of-its-board-of-directors-peter-farrell-to-become-chair-emeritus","status":"publish","type":"post","link":"https:\/\/myanmarnewswire.com\/resmed-appoints-michael-farrell-as-chair-of-its-board-of-directors-peter-farrell-to-become-chair-emeritus\/","title":{"rendered":"ResMed Appoints Michael Farrell as Chair of its Board of Directors Peter Farrell to Become Chair Emeritus"},"content":{"rendered":"
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Michael “Mick” Farrell<\/h5>\n<\/div>\n
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\"\"<\/a><\/p>\n

Michael “Mick” Farrell, ResMed CEO and board chair<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

SAN DIEGO, Jan. 26, 2023 (GLOBE NEWSWIRE) — ResMed (NYSE: RMD, ASX: RMD) today announced ResMed\u2019s board of directors has appointed chief executive officer Michael (\u201cMick\u201d) Farrell as chair of the board, effective January 25, 2023. Mr. Farrell succeeds current chair Peter Farrell who will become chair emeritus and will remain an active board member.<\/p>\n

Mick Farrell became ResMed\u2019s CEO on March 1, 2013, and has served as a member of the company\u2019s board of directors since assuming that role.<\/p>\n

\u201cI am honored to expand my role with ResMed as its next chair and to succeed my dad, Peter Farrell, whose vision, leadership, and guidance have helped ResMed become the largest outside-hospital, digital health company in the world,\u201d said Mick Farrell. \u201cI look forward to working with and leading our strong, diverse, and talented board in continued value creation for stockholders and all our stakeholders.\u201d<\/p>\n

Peter Farrell<\/h5>\n<\/div>\n
\"\"<\/a><\/p>\n

Peter Farrell, ResMed Founder and Chair Emeritus<\/p>\n<\/div>\n

\n

\u201cI am grateful for the opportunities I have had to lead ResMed and its board over the past many years,\u201d said Peter Farrell. \u201cResMed is on a clear growth path with strategic priorities intact; it\u2019s the right time for me to step aside and reduce my commitments as chair so I can devote more time to other boards and philanthropic interests. I will remain an active ResMed board member as chair emeritus and will continue to work closely with Mick, ResMed management, and the board as a steward of ResMed\u2019s strategy, innovation, and culture.\u201d<\/p>\n

\u201cI\u2019d like to thank Peter for his leadership and many contributions to ResMed over the years,\u201d said Ron Taylor, ResMed\u2019s lead independent director and chair of the nominating and governance committee. \u201cWe\u2019re pleased to welcome Mick to the board chair position. Over the past 10 years, the board and I have worked closely with and observed Mick in his role as director and as CEO. Under Mick\u2019s leadership of ResMed these last 10 years, we have seen the market capitalization of the company grow from $6 billion to over $30 billion, delivering a total shareholder return of 507% or 20.0% average annual growth in value over that same period; an excellent return for all our stakeholders. We believe Mick has the right skills and experience, and he has been effective in setting the board agenda, encouraging debate, and connecting the board with management for many years. Combining the chair and CEO roles will allow for streamlining and efficiency and is aligned with the structure held by many of our peers on the S&P 500.1<\/sup> I look forward to working with Mick and the rest of the board as we support the company in reaching its goal of changing the lives of 250 million people in 2025.\u201d<\/p>\n

1<\/em><\/sup> Over 40% of the S&P 500 companies combine <\/em>the c<\/em>hair and CEO role<\/em>s,<\/em> including 11 of the 14 other healthcare equipment companies in the S&P 500<\/em>.<\/em><\/p>\n

About ResMed<\/strong>
\nAt ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 140 countries.\u00a0To learn more, visit ResMed.com<\/a> and follow @ResMed.<\/p>\n\n\n\n\n\n\n
For investors<\/strong><\/td>\nFor media<\/strong><\/td>\n<\/tr>\n
Amy Wakeham<\/td>\nJayme Rubenstein<\/td>\n<\/tr>\n
+1 858.836.5000<\/td>\n+1 858.836.6798<\/td>\n<\/tr>\n
investorrelations@resmed.com<\/a><\/td>\nnews@resmed.com<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Photos\u00a0accompanying this announcement are available at<\/p>\n

https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/6d518d63-ab05-4993-9f71-b8d079726be2<\/a><\/p>\n

https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/f481d27e-98b8-4fa5-8334-0510de3306a6<\/a> <\/p>\n

GlobeNewswire Distribution ID 8736615<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Michael \u201cMick\u201d Farrell SAN DIEGO, Jan. 26, 2023 (GLOBE NEWSWIRE) \u2014 ResMed (NYSE: RMD, ASX: RMD) today announced ResMed\u2019s board of directors has appointed chief executive officer Michael (\u201cMick\u201d) Farrell as chair of the board, effective January 25, 2023. Mr. Farrell succeeds current chair Peter Farrell who will become chair emeritus and will remain an [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"\nResMed Appoints Michael Farrell as Chair of its Board of Directors Peter Farrell to Become Chair Emeritus - Myanmar Newswire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myanmarnewswire.com\/resmed-appoints-michael-farrell-as-chair-of-its-board-of-directors-peter-farrell-to-become-chair-emeritus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ResMed Appoints Michael Farrell as Chair of its Board of Directors Peter Farrell to Become Chair Emeritus - Myanmar Newswire\" \/>\n<meta property=\"og:description\" content=\"Michael \u201cMick\u201d Farrell SAN DIEGO, Jan. 26, 2023 (GLOBE NEWSWIRE) \u2014 ResMed (NYSE: RMD, ASX: RMD) today announced ResMed\u2019s board of directors has appointed chief executive officer Michael (\u201cMick\u201d) Farrell as chair of the board, effective January 25, 2023. 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