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Investing.com -- Baxter International Inc. (NYSE:BAX), a global leader in medical technology, announced today the immediate retirement of José (Joe) E. Almeida, the company’s chair, president, and CEO. Almeida will continue to serve in an advisory role until October 31, 2025.
The company’s Board of Directors has appointed Brent Shafer, previously the lead independent director, as the chair and interim CEO. Shafer is stepping down from his role as lead independent director, with Baxter director Nancy Schlichting taking over the position. The board has also begun a search for a permanent CEO, with the help of a top-tier search firm, and will consider both internal and external candidates.
Shafer expressed gratitude for Almeida’s leadership and dedication during his nine years of service with Baxter. He noted Almeida’s guidance through significant company evolution, portfolio repositioning, and the recent sale of its Kidney Care business, despite market challenges and changing conditions. Shafer stated that Baxter is now better equipped to fulfill its mission of saving and sustaining lives, while delivering increased value for patients, customers, employees, and other stakeholders.
Almeida said it was a great honor to lead the talented Baxter team, which is united by a common mission and passion for serving the more than 350 million patients who rely on them annually. He believes that with the completion of key elements of their strategic transformation, it is the right time for a new CEO to lead the company into its next chapter.
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