By Colin Kellaher
Baxter International's long-time leader, Jose Almeida, has abruptly retired as chairman, president and chief executive of the medical-products maker.
Baxter on Monday said its lead independent director, Brent Shafer, will now serve as chairman and interim CEO.
The Deerfield, Ill., company said it has launched a search for a permanent CEO, adding that will consider external and internal candidates.
Baxter also said it has promoted Heather Knight to the role of executive vice president and chief operating officer, with responsibility for the company's day-to-day business operations. Knight, 53 years old, has led the company's medical products and therapies segment since 2023.
Baxter said Almeida, who took the helm at the start of 2016, will serve in an advisory capacity through Oct. 31, and that he will receive a lump-sum separation payment of $6.89 million.
Shafer, 67 years old, joined Baxter's board in 2022 and has been lead independent director of the Board from 2023. Baxter said Nancy Schlichting, a board member since 2021, will assume the role of lead independent director.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 03, 2025 07:51 ET (12:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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