ResMed Inc., a maker of machines to regulate breathing for people with sleep disorders, promoted Mick Farrell to replace his father as CEO.
Farrell, 40, has served as president of the Americas since 2011, overseeing a division where sales rose more than 30 percent in the past seven quarters, the Poway-based company said in a statement Wednesday. His father, Peter Farrell, 70, will remain executive chairman through the end of the year, then serve as non-executive chairman.
Rob Douglas, the chief operating officer, will assume the role of president, the company said. ResMed generated more than half of its $1.4 billion in sales last fiscal year in the United States.
“It was easily determined that members of the very talented and experienced team that have driven much of the company’s great success over the past decade would be the best suited to lead the company to its next stage of growth and development,” said Gary Pace, ResMed’s lead director and chairman of the board’s succession committee.
Before joining ResMed in 2001, Mick Farrell worked for Genzyme Corp., Dow Chemical Co. (NYSE: DOW), Arthur D. Little and BHP Billiton Ltd. (NYSE: BHP). He has a bachelor’s of engineering degree from the University of New South Wales and a master’s of science from the Massachusetts Institute of Technology.