Sector News

Baxter names José Almeida Chairman and CEO

October 30, 2015
Life sciences

The board of directors of Baxter International (NYSE: BAX) today announced it has named José (Joe) Almeida the company’s Chairman and Chief Executive Officer (CEO), effective January 1, 2016.

Almeida will join the company immediately as an executive officer to facilitate a smooth leadership transition.

Almeida, 53, will succeed Robert L. Parkinson, Jr., who has served as the company’s Chairman and CEO since 2004 and will retire from these roles January 1, 2016, with a brief transition period thereafter. Upon retirement, Parkinson will assume the title of Chairman Emeritus.

”Joe brings to Baxter tremendous experience in the global medical products marketplace and has a demonstrated record of improving profitability and creating value for all stakeholders,” said Parkinson. ”His deep understanding of the complex global supply chain will be a great strength for the company as he oversees a broad portfolio of medically necessary products across a geographically expansive marketplace. What Joe brings to Baxter in skill and experience is imperative to the company’s stated goal of accelerating profitable growth over the near and long term.”

”Baxter is a trusted and admired brand in healthcare. The foundational mission of Baxter to save and sustain lives is at the center of the company’s ability to endure, serving the needs of healthcare providers and patients for more than 80 years,” said Almeida. ”Leading the company as it emerges from the spinoff of Baxalta presents an outstanding opportunity to create value and further the company’s mission.”

”We are extremely pleased for Joe to assume the leadership role at Baxter and carry forward important growth initiatives underway, while creating new opportunities to unleash value,” said Thomas T. Stallkamp, lead independent director of Baxter. ”Joe has more than 24 years of global healthcare experience and an outstanding record of results and clear alignment to our strategy and culture, which led the board to unanimously endorse him as the right leader for the company,” said Stallkamp. ”We also owe our gratitude to Bob Parkinson, whose leadership, integrity and vision have transformed and prepared Baxter for sustained success.”

Source: Baxter

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