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DEERFIELD, IL – Baxter International Inc. (NYSE:BAX), a global leader in medical products with a market capitalization of $16.65 billion and annual revenue of $15.06 billion, announced today the appointment of Ms. Anita Zielinski as Senior Vice President, Chief Accounting Officer, and Controller, effective February 21, 2025.
According to InvestingPro analysis, Baxter maintains a GOOD financial health score, reflecting its strong position in the Healthcare Equipment & Supplies industry. Ms. Zielinski’s election comes as part of a planned transition wherein Mr. Joel Grade will step down from his interim role as Chief Accounting Officer and Principal Accounting Officer but will continue in his capacity as Executive Vice President and Chief Financial Officer.
Ms. Zielinski, 51, brings a wealth of experience to Baxter, having most recently served as the Senior Vice President and Chief Financial Officer for US Foodservice Operations at Sysco Corporation (NYSE:SYY). In this role, she oversaw the financial operations of Sysco’s US business segments. She joins Baxter at a crucial time, as InvestingPro data indicates the company’s net income is expected to grow this year, despite analysts anticipating a sales decline.
Subscribers to InvestingPro can access 8 additional key insights about Baxter’s financial outlook. Her tenure at Sysco also included a stint as Senior Vice President and Chief Accounting Officer from 2017 to 2022. Before joining Sysco, Zielinski was an audit partner with Ernst & Young. She holds a Bachelor of Business Administration from Texas A&M University and is a Certified Public Accountant in Texas.
In her new role at Baxter, Ms. Zielinski will receive a competitive compensation package, including an annual base salary, eligibility for an annual cash bonus under the company’s Management Incentive Compensation Plan, and an annual equity-based grant as part of the company’s long-term incentive program. She will also participate in Baxter’s other benefit plans. Additionally, Ms. Zielinski has been awarded a sign-on bonus of $150,000, subject to repayment conditions if her employment is terminated within a specified timeframe.
Baxter has stated that Ms. Zielinski has no familial relationships with any company directors or executive officers and that there are no relevant transactions between her and the company that would be reportable under SEC regulations. This executive appointment reflects Baxter’s commitment to strong leadership and governance within its financial operations.
The information provided here is based on a press release statement issued by Baxter International Inc. and filed with the SEC. Notable financial metrics from InvestingPro show that Baxter has maintained dividend payments for 54 consecutive years and currently trades with low price volatility. For comprehensive analysis including Fair Value estimates and detailed financial metrics, investors can access Baxter’s full Pro Research Report, part of InvestingPro’s coverage of over 1,400 US equities.
In other recent news, Baxter International reported a 4% increase in sales year-over-year in Q3 2024, reaching $3.85 billion. The company’s adjusted earnings per share (EPS) of $0.80 exceeded their guidance, led by a 7% growth in the Medical (TASE:PMCN) Products & Therapies segment, primarily driven by the demand for the Novum IQ platform.
Despite operational challenges due to Hurricane Helene, Baxter anticipates a resumed production of IV solutions by late November. In addition, Baxter announced the pending sale of their Kidney Care business to Carlyle, expected to close in late 2024 or early 2025.
Baxter International also announced that Mr. Peter M. Wilver will resign from its Board of Directors, including his roles on the Audit Committee and Compensation and Human Capital Committee, effective December 31, 2024. Concurrently, Mr. Jeffrey A. Craig will assume the position of chairperson of the Audit Committee.
Despite anticipating a $200 million sales decrease in Q4 due to Hurricane Helene, Baxter projects full-year 2024 sales growth at 1% to 2%, with an adjusted EPS of $2.90 to $2.94. The company aims for 4% to 5% top-line growth and an adjusted operating margin of 16.5% in 2025 post-separation from the Kidney Care business.
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