Baxter has announced that Joe Almeida, its chair, president, and CEO, has retired effective immediately.
The company also introduced a new chief operating officer and rebranded its former Kidney Care business to “Vantive.”
While Almeida has stepped down from his executive roles, he will remain as an advisor until October 2025. Brent Shafer, previously the lead independent director, is now chair and interim CEO. Baxter is working with a search firm to find a permanent CEO, considering both internal and external candidates.
Shafer thanked Almeida for his leadership during his nine years. He emphasized how Almeida helped steer Baxter through important changes, including the recent sale of the Kidney Care business, while also facing market challenges. He expressed confidence that Baxter is now better equipped to fulfill its mission of helping patients and stakeholders.
Almeida’s Leadership and Transition
Almeida became CEO in January 2016 and focused on transitioning Baxter toward higher-growth markets. His strategy involved simplifying the business by divesting non-core assets and enhancing innovation.
Reflecting on his time at Baxter, Almeida stated, “It has been an immense honor… this is the right time for a new CEO to lead the company into its next chapter.”
In another key change, Baxter has promoted Heather Knight to executive vice president and COO, effective immediately. Knight will oversee daily operations, including global sales, marketing, and research, among other areas. She joined Baxter from Medtronic in 2019.
“I’m excited to take on this new role,” Knight said, aiming to drive operational excellence across the organization for the benefit of patients and healthcare professionals worldwide.
The Birth of Vantive
Baxter completed the sale of its Kidney Care business to Carlyle Group for $3.8 billion on January 31, 2025. The plan to spin off the renal care and acute therapies units into an independent company was announced in January 2023, with the new name “Vantive” chosen last July.
Vantive aims to improve kidney and vital organ therapies, emphasizing the importance of timely access to the right treatments for patients and clinicians. Chris Toth, CEO of Vantive, expressed excitement about the new direction, mentioning the company’s commitment to enhancing options for patients and healthcare teams.
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