ResMed founder returns to CEO role

ResMed has announced that company founder Dr Peter Farrell has assumed the position of president and chief executive officer (CEO) on an interim basis.

Dr Farrell set up the company in June 1989 and has acted as chairman since then, as well as having previously served in the position of CEO from July 1990 until December 2007.

His appointment has been prompted by the resignation of Kieran Gallahue, who ended his association with the medical technology firm this week in order to take up the chairman and CEO role at CareFusion.

Dr Farrell said: "I remained closely involved with ResMed's strategy, so stepping back into the CEO role will not be a novelty for me and will ensure continuity for the team."

This comes after ResMed published its financial report last week for the three months ending on December 31st 2010, during which the firm experienced its best ever revenue performance.