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Masimo Says President of New Consumer Unit Leaving

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.

 

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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