Baxter Announces CEO Retirement and Appointment of COO
Baxter International (NYSE:BAX) announced the immediate retirement of José (Joe) E. Almeida from his positions as Chair, President, and CEO. Lead Independent Director Brent Shafer has been appointed as Chair and Interim CEO, with the board initiating a comprehensive search for a permanent CEO.
The company also appointed Heather Knight as Executive Vice President and Chief Operating Officer, responsible for global operations including sales, marketing, R&D, supply chain, and medical affairs. Nancy Schlichting will assume the role of lead independent director.
Baxter recently completed the sale of its Kidney Care business to Carlyle on January 31, 2025. The company expects Q4 and full-year 2024 results to align with previous guidance, maintaining its 2025 objectives of 4-5% operational sales growth and approximately 16.5% adjusted operating margin. However, these projections don't include potential impacts from recently announced U.S. tariffs on imports from Mexico, Canada, and China.
Baxter International (NYSE:BAX) ha annunciato il ritiro immediato di José (Joe) E. Almeida dalle sue posizioni di Presidente, CEO e Capo del Consiglio. Brent Shafer, Direttore Indipendente Principale, è stato nominato Presidente e CEO ad interim, con il consiglio che ha avviato una ricerca completa per un CEO permanente.
L'azienda ha anche nominato Heather Knight come Vicepresidente Esecutivo e Direttore Operativo, responsabile delle operazioni globali tra cui vendite, marketing, R&S, catena di approvvigionamento e affari medici. Nancy Schlichting assumerà il ruolo di direttore indipendente principale.
Baxter ha recentemente completato la vendita della sua attività di Cura dei Renali a Carlyle il 31 gennaio 2025. L'azienda prevede che i risultati del quarto trimestre e dell'anno intero 2024 si allineeranno con le precedenti indicazioni, mantenendo gli obiettivi del 2025 di una crescita delle vendite operative del 4-5% e un margine operativo rettificato di circa il 16,5%. Tuttavia, queste proiezioni non includono potenziali impatti dalle recenti tariffe doganali degli Stati Uniti sugli importazioni da Messico, Canada e Cina.
Baxter International (NYSE:BAX) anunció el retiro inmediato de José (Joe) E. Almeida de sus cargos como Presidente, CEO y Presidente de la Junta. Brent Shafer, Director Independiente Principal, ha sido nombrado Presidente y CEO interino, mientras que la junta inicia una búsqueda integral para un CEO permanente.
La compañía también designó a Heather Knight como Vicepresidenta Ejecutiva y Directora de Operaciones, responsable de las operaciones globales que incluyen ventas, marketing, I+D, cadena de suministro y asuntos médicos. Nancy Schlichting asumirá el papel de directora independiente principal.
Baxter completó recientemente la venta de su negocio de Cuidado de Riñones a Carlyle el 31 de enero de 2025. La empresa espera que los resultados del cuarto trimestre y del año completo 2024 se alineen con las orientaciones anteriores, manteniendo sus objetivos de 2025 de crecimiento de ventas operativas del 4-5% y un margen operativo ajustado de aproximadamente el 16.5%. Sin embargo, estas proyecciones no incluyen los impactos potenciales de las tarifas estadounidenses recientemente anunciadas sobre las importaciones de México, Canadá y China.
Baxter International (NYSE:BAX)는 José (Joe) E. Almeida가 의장, 사장 및 CEO 직위에서 즉시 퇴직한다고 발표했습니다. 독립 이사인 Brent Shafer가 의장 겸 임시 CEO로 임명되었으며, 이사회는 영구 CEO를 위한 포괄적인 검색을 시작했습니다.
회사는 또한 Heather Knight를 총괄부사장 겸 COO로 임명하여 글로벌 운영(판매, 마케팅, 연구 및 개발, 공급망 및 의료 업무 포함)을 책임지게 했습니다. Nancy Schlichting가 독립 이사장 역할을 맡습니다.
Baxter는 최근 2025년 1월 31일 Carlyle에 신장 관리 사업을 매각하는 작업을 완료했습니다. 회사는 2024년 4분기 및 연간 결과가 이전 지침과 일치할 것으로 예상하며, 2025년 목표인 4-5% 운영 매출 성장 및 약 16.5% 조정 운영 마진을 유지할 예정입니다. 그러나 이들 예측은 최근 발표된 미국의 멕시코, 캐나다 및 중국으로부터의 수입에 대한 관세가 미칠 잠재적 영향을 포함하지 않습니다.
Baxter International (NYSE:BAX) a annoncé le départ immédiat de José (Joe) E. Almeida de ses fonctions de Président, PDG et Président du Conseil. Brent Shafer, Administrateur Indépendant Principal, a été nommé Président et PDG par intérim, le conseil ayant lancé une recherche approfondie pour un PDG permanent.
L'entreprise a également nommé Heather Knight Vice-Présidente Exécutive et Directrice des Opérations, responsable des opérations mondiales, y compris les ventes, le marketing, la R&D, la chaîne d'approvisionnement et les affaires médicales. Nancy Schlichting assumera le rôle de directrice indépendante principale.
Baxter a récemment finalisé la vente de son activité de soins des reins à Carlyle le 31 janvier 2025. La société s'attend à ce que les résultats du quatrième trimestre et de l'année complète 2024 soient conformes aux précédentes indications, maintenant ses objectifs pour 2025 de croissance des ventes opérationnelles de 4 à 5 % et un taux de marge opérationnelle ajusté d'environ 16,5 %. Cependant, ces prévisions n'incluent pas les impacts potentiels des droits de douane récemment annoncés aux États-Unis sur les importations en provenance du Mexique, du Canada et de la Chine.
Baxter International (NYSE:BAX) hat den sofortigen Rücktritt von José (Joe) E. Almeida von seinen Positionen als Vorsitzender, Präsident und CEO bekannt gegeben. Der Lead Independent Director Brent Shafer wurde als Vorsitzender und Interim-CEO ernannt, während der Vorstand eine umfassende Suche nach einem permanenten CEO initiiert.
Das Unternehmen ernannte auch Heather Knight zur Executive Vice President und Chief Operating Officer, verantwortlich für globale Operationen, einschließlich Vertrieb, Marketing, F&E, Lieferkette und medizinische Angelegenheiten. Nancy Schlichting wird die Rolle des Lead Independent Directors übernehmen.
Baxter hat kürzlich am 31. Januar 2025 den Verkauf seines Geschäfts für Nierenpflege an Carlyle abgeschlossen. Das Unternehmen erwartet, dass die Ergebnisse des vierten Quartals und des gesamten Jahres 2024 mit den bisherigen Prognosen übereinstimmen und die Ziele für 2025 von 4-5% Umsatzwachstum und einer angepassten Betriebsmarge von etwa 16,5% beibehalten werden. Diese Prognosen enthalten jedoch keine potenziellen Auswirkungen der kürzlich angekündigten US-Zölle auf Importe aus Mexiko, Kanada und China.
- Strategic transformation completed with sale of Kidney Care business
- Projected 4-5% operational sales growth for 2025
- Target adjusted operating margin of 16.5% for 2025
- Streamlined operations under new COO structure
- Unexpected immediate CEO departure creates leadership uncertainty
- Potential negative impact from new U.S. tariffs on imports
- Interim CEO arrangement suggests potential strategic direction uncertainty
- José (Joe) E. Almeida to retire as Chair, President and Chief Executive Officer
- Lead Independent Director Brent Shafer appointed Chair and Interim CEO
- Board has initiated a comprehensive search to select full-time replacement
- Heather Knight appointed Chief Operating Officer
The Baxter Board of Directors has appointed lead independent director Brent Shafer as chair and interim CEO and has initiated a search for a permanent CEO with the assistance of a leading search firm. The Board will evaluate external and internal candidates. In conjunction with his appointment, Brent Shafer is stepping down from his role as lead independent director. Baxter director Nancy Schlichting will assume the role of lead independent director.
“On behalf of the Board, I would like to thank Joe for his leadership and unwavering dedication to Baxter throughout his nine years of service,” said Mr. Shafer. “Joe has guided the company through a period of significant evolution and portfolio repositioning, including the recently closed sale of its Kidney Care business, while navigating market challenges and evolving conditions. Thanks to his leadership, today’s Baxter is better able to fulfill its mission of saving and sustaining lives while delivering increased value for patients, customers, employees and its many other stakeholders. I look forward to supporting Baxter’s important work in service of its mission and working closely with the Board to identify the permanent CEO.”
“It has been an immense honor to lead the exceptionally talented Baxter team, which is united by our mission and passionate about serving the more than 350 million patients who count on us every year. With the key elements of our broad strategic transformation complete, this is the right time for a new CEO to lead the company into its next chapter,” said Mr. Almeida.
Mr. Almeida assumed his roles at the company in January 2016, following more than three decades of distinguished contributions to the healthcare industry. Under his leadership, Baxter meaningfully evolved its strategic positioning, reorienting the company toward higher-growth end-markets. This strategic shift has most recently centered on the simplification of the business through the divestment of certain non-core assets and the implementation of a new operating model to accelerate innovation and deliver value. During Mr. Almeida’s tenure, the company has also been widely recognized as a socially responsible and sustainable business and as an employer of choice.
Appointment of Chief Operating Officer
Baxter has appointed Heather Knight to the role of executive vice president and chief operating officer (COO), effective immediately. As COO, Ms. Knight 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. She will report directly to the interim CEO and will also serve as interim group president, Medical Products & Therapies.
“Unifying leadership and oversight of operations across our three post-separation businesses is a natural step in our transformation, best positioning the company to capitalize on our segment operating structure and drive incremental growth through innovation,” said Mr. Shafer. “Heather’s decades of operational expertise and leadership and deep knowledge of the global commercial, operational, medical and regulatory landscape will continue to serve our patients, customers and Baxter well going forward.”
“I’m excited to assume this new role within Baxter, expanding my focus on operational excellence and performance execution across our organization,” said Ms. Knight of her appointment. “Every day I am driven by our mission, and I am inspired by the opportunity we have before us to further advance Baxter for the benefit of patients and healthcare professionals around the world.”
Kidney Care Sale and Financial Outlook
The company completed the sale of its Kidney Care business to
The company will now report its fourth-quarter and full-year 2024 earnings results on Feb. 20, 2025. Baxter expects 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
About Brent Shafer
Mr. Shafer was appointed as Baxter’s chair and interim CEO in February 2025, having previously served as lead independent director since February 2023. Prior to joining the Baxter Board in May 2022, Mr. Shafer served as the chairman and CEO of Cerner Corporation from 2018 to 2021. He has worked in the healthcare industry for four decades, holding a number of senior leadership roles at Koninklijke Philips NV, Hillrom, GE Medical Systems, Hewlett Packard's Medical Products Group and Johnson & Johnson. He also serves on the boards of Tactile Systems Technology and Veracyte.
About Nancy Schlichting
Ms. Schlichting was appointed as Baxter’s lead independent director in February 2025 and has served as a director of the company since December 2021. She joined the board following Baxter's acquisition of Hillrom, where she had previously served as a director. Ms. Schlichting is the retired president and CEO of Henry Ford Health System in
About Heather Knight
Ms. Knight was appointed as Baxter’s executive vice president and chief operating officer in February 2025. In 2023, she was named to lead the company’s largest segment, Medical Products & Therapies, which she continues to lead on an interim basis. From 2021 to 2023, she served as president of Baxter’s
About Baxter
Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on X, LinkedIn and Facebook.
Non-GAAP Financial Measures
This release contains certain forward-looking financial measures that are not calculated in accordance with
Forward-looking annual operational sales growth represents the company’s targeted future sales growth excluding sales to Vantive under a manufacturing and supply agreement and assuming foreign currency exchange rates remain constant in future periods. Forward-looking adjusted operating margin excludes potential charges or gains that would be reflected as non-GAAP adjustments to earnings.
Baxter has not provided reconciliations of forward-looking annual operational sales growth to a forward-looking estimate of annual GAAP sales growth or forward-looking adjusted operating margin to a forward-looking estimate of GAAP operating margin because the company is unable to predict with reasonable certainty the impact of legal proceedings, future business optimization actions, separation-related costs, integration-related costs, asset impairments, unusual gains and losses, and changes in foreign currency exchange rates, and the related amounts are unavailable without unreasonable efforts (as specified in the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K). In addition, Baxter believes that such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance.
Forward-Looking Statements
This press release contains forward-looking statements concerning the company's financial results (including the company’s performance for fourth-quarter and full-year 2024 and outlook for 2025) and business development and operational activities. These forward-looking statements are based on assumptions about many important factors, including those set forth in the company’s most recent filings on Form 10-K and Form 10-Q, which could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements. Baxter’s most recent filings on Form 10-K and Form 10-Q and other SEC filings are available on Baxter’s website. Baxter undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Media Contact
Stacey Eisen, (224) 948-5353
media@baxter.com
Investor Contact
Clare Trachtman, (224) 948-3020
Source: Baxter International Inc.
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