DEERFIELD (dpa-AFX) - Baxter International Inc. (BAX), a healthcare company, Monday announced the appointment of Lead Independent Director Brent Shafer as chair and interim CEO. Chair, President, and Chief Executive Officer José Almeida will retire immediately and will serve in an advisory capacity through October 31.
Director Nancy Schlichting will take over the role of lead independent director as Brent Shafer steps down.
Almeida joined the company in 2016 and has 30 years of experience in the healthcare industry.
The company has initiated a search for a permanent CEO.
The company said it plans to simplify its business by selling non-essential assets and adopting a new operating model to boost innovation and increase value.
In the pre-market trading, Baxter is 2.30% lesser at $31.81 on the New York Stock Exchange.
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