IRTC - iRhythm falls as CEO departs; Company reaffirms guidance

iRhythm Technologies (IRTC) has lost ~8.5% in the post-market after announcing the departure of company President/CEO Michael Coyle effective June 01 due to personal matters.Douglas Devine, the iRhythm’s chief financial officer has assumed the duties as interim CEO as search for a permanent replacement is conducted.The iRhythm Board of Directors has formed a CEO search committee and has retained an executive search firm to assist in the search.“We respect Mike’s prioritization of his personal matters and wish him all the best,” noted Abhijit Talwalkar, chairman of the iRhythm Board.The company also reiterated its Q2 2021 guidance for Q2 2021 indicating 4% sequential volume growth compared to the preceding quarter with flat growth in operating expenses.

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iRhythm falls as CEO departs; Company reaffirms guidance