Baxter International Appoints New CEO

By Tamara Parker • Monday, February 03 15:28 • Permanent Link

Baxter International Inc. (NYSE:BAX) has announced significant changes in its leadership team, with the retirement of José (Joe) E. Almeida, the Chair, President, and CEO. Lead Independent Director Brent Shafer has been appointed as the Chair and Interim CEO, and the company has initiated a search for a permanent CEO. Heather Knight has been appointed as the Chief Operating Officer (COO).

The company completed the sale of its kidney care business to Carlyle on January 31, 2025, and it is expected to report its fourth-quarter and full-year 2024 earnings results on February 20, 2025. Baxter expects the results for the fourth quarter and full-year 2024 to be aligned with the continuing operations guidance previously provided in the company’s third-quarter 2024 earnings announcement. The company remains committed to its previously announced 2025 financial objectives of 4% to 5% operational sales growth and approximately 16.5% adjusted operating margin.

Brent Shafer, who was appointed as Baxter’s Chair and Interim CEO in February 2025, has served as the Chairman and CEO of Cerner Corporation from 2018 to 2021. Nancy Schlichting, the retired President and CEO of Henry Ford Health System, has been appointed as Baxter’s lead independent director.

Heather Knight, who was appointed as Baxter’s Executive Vice President and COO in February 2025, will have responsibility for the company’s day-to-day business operations, including global sales, marketing, R&D, supply chain, and medical and regulatory affairs. Prior to this role, she led the company’s largest segment, Medical Products & Therapies, and served as President of Baxter’s Americas region and the company’s acute therapies, clinical nutrition, and medication delivery business units.

Baxter International Inc., a global medtech leader, is focused on delivering increased value for patients, customers, employees, and other stakeholders. The company’s forward-looking non-GAAP financial measures include forward-looking annual operational sales growth and forward-looking adjusted operating margin for 2025. However, the company has not provided reconciliations of these measures to GAAP measures due to the uncertainty of certain factors.

Following these announcements, the company's shares moved -2.7%, and are now trading at a price of $31.67. If you want to know more, read the company's complete 8-K report here.

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