Baxter Corporation has announced that President and CEO José Almeida is retiring, effective immediately. Almeida led the medtech company for nearly a decade, overseeing a major transformation that included the sale of its Vantive kidney care unit to the Carlyle Group for $3.8 billion.
Almeida took over as CEO in January 2016 and served under former Covidien president and CEO before joining Baxter. The company has started searching for a new permanent CEO, with Brent Shafer, lead independent director, serving as interim CEO until then.
Baxter also announced the appointment of Heather Knight, leader of medical products and therapies, to chief operating officer. This move is part of the company’s efforts to unify leadership across its businesses.
The company plans to report its earnings on February 20, despite concerns about potential impacts from the Trump administration’s new tariffs on Canada, Mexico, and China. Baxter has previously stated that it does not make products in China for the US market, but the new tariffs could still affect sales.
Baxter will continue to operate under its new leadership, with Almeida remaining as an advisor until the end of October.
Source: https://www.fiercebiotech.com/medtech/baxter-ceo-jose-almeida-retire-effective-immediately