Baxter has appointed Jose Almeida as chairman and chief executive officer, effective January 2016.
Almeida, 53, will succeed Robert Parkinson Jr who has served as the company’s chairman and CEO since 2004.
Almeida was the chief executive of Covidien, a global healthcare products company, until the company was acquired by Medtronic earlier this year. He has also held positions at Acufex Microsurgical division, Johnson & Johnson’s professional products division and Wilson Greatbatch Technologies.
He said: “Baxter is a trusted and admired brand in healthcare. The foundational mission of Baxter to save and sustain lives is at the centre of the company’s ability to endure, serving the needs of healthcare providers and patients for more than 80 years.
“Leading the company as it emerges from the spinoff of Baxalta presents an outstanding opportunity to create value and further the company’s mission.”
Soon-to-retire Robert Parkinson Jr, added: “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.
“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.”