Shares of Irvine-based Quality Systems Inc. fell Tuesday after the company said Chief Executive Lou Silverman will resign in August.
Quality, which provides software that doctors and dentists use to manage their practices, said Silverman would resign Aug. 16.
Quality didn’t disclose a reason for the resignation, but said it expects to have a successor in place before Silverman steps down.
Quality’s shares were down 4.1% with a market value of $831 million at close of trading.
Silverman has been Quality’s top official since 2000. He previously worked at CorVel Corp., a healthcare service company based in Irvine.
During his tenure at the company, Quality became a darling among investors, who were impressed with Quality’s moves to automate doctors.
But he also had to deal with Ahmed Hussein, a director and dissident shareholder, who sparked a fight with management in 2005 over corporate governance issues.
Steven Halper, an analyst with Thomas Weisel Partners in San Francisco, said in a research note that other key members of Quality’s management remain in place, including Patrick Cline, president of the company’s dominant NextGen division.
