- Push-out Score determined
- After almost nine years in the position
- Accolades, praise and thanks for King
- Mike Coyle taking over
- King said 91 words
(exechange) — San Francisco, California, December 14, 2020 — Kevin King, chief executive of IRhythm, leaves. As announced by IRhythm Technologies Inc. in a news release and in a regulatory filing published on Monday, December 14, 2020, Kevin M. King leaves his post as chief executive officer of the digital health care solutions company after almost nine years in the role, effective January 12, 2021.
Kevin King’s duties as CEO will be taken over by Michael J. (Mike) Coyle, most recently Executive Officer of Medtronic, Plc.
The fact that Kevin King’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“The timing of any CEO transition is never easy”
IRhythm did not give an explicit reason for Kevin King’s departure from the CEO post, leaving room for speculation. Kevin King said: “While the timing of any CEO transition is never easy, succession planning has been a thorough and thoughtful process. Our business outlook remains very strong with substantial opportunity for continued growth and expansion.”
Precise information regarding Kevin King’s future plans was not immediately available.
IRhythm said: “Kevin King will retire as President and CEO effective January 12, 2021.”
Share price increase since December 2019
The announcement follows an increase in IRhythm Technologies Inc.’s share price of 161% since December 2019.
Chaired by Abhijit Talwalkar
Abhijit Talwalkar serves as IRhythm Technologies Inc.’s Chairman.
Abhijit Y. Talwalkar has served as a member and Chairman of the Company’s Board of Directors since May 2016. Talwalkar is the former President and Chief Executive Officer of LSI Corporation, a leading provider of silicon, systems and software technologies for the storage and networking markets, a position he held from May 2005 until the completion of LSI’s merger with Avago Technologies in May 2014.
In the position of CEO since 2012
Kevin King became CEO of the Company in 2012.
King will continue to serve on IRhythm’s board of directors and as an advisor to the business.
Kevin M. King has served as the Company’s President, Chief Executive Officer and a member of the Company’s Board of Directors since July 2012.
King has nearly three decades of experience in the healthcare and IT industries in leadership roles. In January 2007, King joined Affymetrix, Inc., a publicly traded technology innovator in the field of genetic analysis, as President of Life Sciences Business and Executive Vice President.
King was promoted to President of Affymetrix in September 2007 and then served as President and Chief Executive Officer and a director of Affymetrix from January 2009 until June 2011, leading Affymetrix on a growth strategy into new markets for downstream validation and molecular diagnostics and overseeing several acquisitions.
Prior to Affymetrix, from February 2005 until June 2006, King served as President and Chief Executive Officer of Thomson Healthcare, an information services business which focused on a range of healthcare-related businesses.
From March 1997 until November 2004, King was a senior executive at GE Healthcare, where he led several business units including Magnetic Resonance Imaging and Global Clinical Systems Business.
King began his career at Hewlett-Packard’s Medical Products Group and during his 14-year tenure held leadership roles in Sales, Marketing, R&D, and Business Development.
King holds a B.A. in Economics and Biology from the University of Massachusetts and an M.B.A. from New Hampshire College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to IRhythm and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 51.2020 ($).