The End of an Era: Baxter’s CEO Has RetiredThe End of an Era: Baxter’s CEO Has Retired
José Almeida, chair, president and CEO, will retire from his executive roles with the company, effective immediately.
February 3, 2025
.png?width=1280&auto=webp&quality=95&format=jpg&disable=upscale)
Baxter CEO José Almeida announced that he was retiring, effective immediately. He has been at the helm of the Deerfield, IL-based company for nearly a decade.
He will serve in an advisory capacity through Oct. 31, 2025.
“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,” Almeida said in a release. “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.”
The board 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 search firm. The board will evaluate external and internal candidates. In conjunction with his appointment, 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 Shafer. “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.”
In addition, Heather Knight was appointed as Baxter’s executive vice president and COO. In 2023, she was named to lead the company’s largest segment, Medical Products & Therapies, which she continues to lead on an interim basis.
Almedia’s retirement comes just a few days after the company's sale of Vantive, its Kidney Care business, to Carlyle Group for $3.8 billion. Recall, that talks of selling the business first popped up in a March SEC filing.
About the Author
You May Also Like