Editor's Note: CONNECT released the following announcement on Wednesday, Jan. 29.
Join CONNECT in honoring Peter C. Farrell, Founder and Executive Chairman of ResMed, at the prestigious Entrepreneur Hall of Fame Awards luncheon.
Hall of Fame honors individuals who have achieved distinction over the years for founding, leading or advancing a San Diego life sciences or technology based business or organization. Such entrepreneurs have contributed to the business sectors that shape our local economy, improve our quality of life and continue to inspire future generations of innovators and entrepreneurs. Peter Farrell will be our 12th inductee into CONNECT's Entrepreneur Hall of Fame. Past honorees include Irwin Jacobs, Walter Zable, Ivor Royston, William Rastetter, J. Robert Beyster, Neal Blue, Linden Blue, Peter Preuss, Gene Ray, Howard "Ted" Greene and Ron Taylor.
Peter Farrell is the founder and executive chairman of ResMed and has been chairman and a director since our inception in June 1989. He served as chief executive officer from July 1990 until December 2007 when he became executive chairman. In February 2011, he resumed the role of chief executive officer until March 2013, when he resumed the role of executive chairman.
From July 1984 to June 1989, Dr. Farrell served as vice president, research and development at various subsidiaries of Baxter International, Inc., and from August 1985 to June 1989, he also served as managing director of the Baxter Center for Medical Research Pty Ltd., a Baxter subsidiary. From January 1978 to December 1989, he was foundation director of the Graduate School for Biomedical Engineering at the University of New South Wales where he currently serves as a visiting professor and as chairman of the UNSW Centre for Innovation and Entrepreneurship.
Dr. Farrell also serves on two faculty advisory boards at the University of California, San Diego: the Rady Business School and the Jacobs Engineering School. He holds a B.E. in chemical engineering with honors from the University of Sydney, an S.M. in chemical engineering from the Massachusetts Institute of Technology, a Ph.D. in chemical engineering and bioengineering from the University of Washington, Seattle and a D.Sc. from the University of New South Wales for research contributions in the field of treatment with the artificial kidney.
Since 2005, Dr. Farrell has been a director of NuVasive, Inc., a NASDAQ-listed company which develops and markets products for the surgical treatment of spine disorders. He also serves as the non-executive chair of QRxPharma, a clinical-stage specialty pharmaceutical company listed on the ASX.
Dr. Farrell is a fellow or honorary fellow of several professional bodies, including a member of the National Academy of Engineering, to which he was elected in 2012. Dr. Farrell was named 1998 San Diego Entrepreneur of the Year for Health Sciences, Australian Entrepreneur of the Year in 2001 and US National Entrepreneur of the Year for Health Sciences in 2005. Dr. Farrell joined the Executive Council of the Division of Sleep Medicine at Harvard Medical School in 1998, served as vice chairman from 2000 until 2010 when he became chairman; he served in that capacity until May 2013.
Dr. Farrell’s role as our founder and chief executive officer for over 19 years provides him with a unique and deep understanding of our operations, technology and industry. In addition, his background reflects significant executive experience with other publicly-held medical technology companies and public company governance experience and training. This experience and training includes more than seven years of experience on the nominating and governance committee and one year of experience on the compensation committee of NuVasive, four years of experience on the nominations and remuneration committees of QRxPharma, as well as coursework specific to corporate governance from the Harvard Business School. Dr. Farrell’s experience and skills led our board to the conclusion that he should serve as a director.