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Baxter International Names Interim CEO After $3.8B Sale

2/3/2025

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Summary

Story summary

Baxter International has retired CEO José Almeida immediately after selling its Kidney Care business for $3.8 billion.
Brent Shafer is appointed interim CEO while the board seeks a permanent successor.
Almeida will act as an advisor until October 31, 2025, earning a salary of $650,000 plus a $6.89 million lump-sum payment.
Heather Knight has been promoted to COO, responsible for global operations.

History

Historical Context

Baxter International's leadership change follows a significant shift in the kidney care sector, echoing past corporate upheavals like DaVita's struggles in the late 1990s. As healthcare reforms push for improved kidney treatment, Baxter's strategic moves reflect a broader trend toward specialization and operational efficiency in the industry.

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Story summary

Baxter International has retired CEO José Almeida immediately after selling its Kidney Care business for $3.8 billion.
Brent Shafer is appointed interim CEO while the board seeks a permanent successor.
Almeida will act as an advisor until October 31, 2025, earning a salary of $650,000 plus a $6.89 million lump-sum payment.
Heather Knight has been promoted to COO, responsible for global operations.

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