Masimo Corp., an Irvine-based medical device maker, announced the departure of Kevin Duffy, the top official associated with its largest ever acquisition.
Masimo on July 11 sent Duffy a termination notice “without cause,” effective Aug. 5. Duffy has agreed to remain with Masimo until Aug. 5 to assist with the transition, according to a filing with the Securities and Exchange Commission.
The parting was amicable, according to a spokesperson.
In April, Duffy was named president of Masimo’s consumer division after it completed its $1 billion acquisition of Viper Holdings, the parent company of Sound United, a manufacturer and distributor of audio equipment.
The acquisition surprised investors who sent the shares down 35% on Feb. 16 after it was announced.
Today, shares of Masimo declined 1.3% to $124.2 and a $6.9 billion market cap.