ResMed mulls move
SAN DIEGO – ResMed is evaluating whether it should move its headquarters out of California, according to news reports. Peter Farrell, ResMed CEO, cited tax increases, stronger unions, stricter regulations and a Democratic majority in the state legislature as reasons why the company is looking elsewhere. A board-appointed task force is considering Texas, South Carolina, Singapore and Ireland as potential future bases for the company. “We’re trying to evaluate whether or not it’s the best thing for our shareholders—and for our future—to remain headquartered in California,” Farrell told the San Diego Business Journal. “California just doesn’t have a business-friendly environment, and my gut says it will get worse. Do we want to sit around on the deck of the Titanic?” Regarding ResMed employees, Farrell added, “Of course, it would be very disruptive to employees to move everything. We’re not going to pull the trigger without properly thinking it through.” The task force will present its findings at ResMed’s next board meeting in February.