---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-039261"
form_type: "8-K"
ticker: "BAX"
cik: "0000010456"
company_name: "BAXTER INTERNATIONAL INC"
filed_at: "2023-02-14T23:59:59+00:00"
generated_at: "2026-06-19T12:56:49.427125+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Baxter announces director retirements, new executives, and cash severance policy

## Summary
- Thomas F. Chen and Albert P.L. Stroucken retiring from board effective April 28, 2023.
- Cathy R. Smith to chair Nominating, Governance & Public Policy; Peter Wilver to chair Audit.
- D. Brent Shafer appointed Lead Independent Director effective April 28, 2023.
- New executives: Heather Knight, Reaz Rasul, Alok Sonig as group presidents effective March 1, 2023.
- Cash severance policy caps new executive benefits at 2.99x base salary plus target bonus without shareholder vote.

## SEC filing metadata
- accession: 0001193125-23-039261
- form_type: 8-K
- ticker: BAX
- cik: 0000010456
- company_name: BAXTER INTERNATIONAL INC
- filed_at: 2023-02-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/d465899d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-039261
- JSON: https://secwatch.observer/filing/0001193125-23-039261.json
- Plain text: https://secwatch.observer/filing/0001193125-23-039261.txt

## Key facts
- Executive change
  Reaz Rasul was appointed as Executive Vice President and Group President, Healthcare Systems and Technologies at BAXTER INTERNATIONAL INC.
  - Action: appointed
  - Role: Executive Vice President and Group President, Healthcare Systems and Technologies
  source text: Mr. Reaz Rasul was appointed as the Company’s Executive Vice President and Group President, Healthcare Systems and Technologies.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- Executive change
  Thomas F. Chen retired as Director at BAXTER INTERNATIONAL INC.
  - Action: retired
  - Role: Director
  source text: On February 13, 2023, Mr. Thomas F. Chen notified Baxter International Inc. (the “Company” or “Baxter”) of his decision to retire from the Board of Directors of the Company (the “Board”), effective as of April 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- Executive change
  D. Brent Shafer was appointed as Lead Independent Director at BAXTER INTERNATIONAL INC.
  - Action: appointed
  - Role: Lead Independent Director
  source text: the Board also appointed Mr. D. Brent Shafer as the Board’s Lead Independent Director, effective April 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- Executive change
  Alok Sonig was appointed as Executive Vice President and Group President, Pharmaceuticals at BAXTER INTERNATIONAL INC.
  - Action: appointed
  - Role: Executive Vice President and Group President, Pharmaceuticals
  source text: Mr. Alok Sonig was appointed as the Company’s Executive Vice President and Group President, Pharmaceuticals.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- Executive change
  Albert P.L. Stroucken retired as Director at BAXTER INTERNATIONAL INC.
  - Action: retired
  - Role: Director
  source text: Mr. Stroucken’s term will expire on April 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm
- Executive change
  Heather Knight was appointed as Executive Vice President and Group President, Medical Products and Therapies at BAXTER INTERNATIONAL INC.
  - Action: appointed
  - Role: Executive Vice President and Group President, Medical Products and Therapies
  source text: Ms. Heather Knight was appointed as the Company’s Executive Vice President and Group President, Medical Products and Therapies.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523039261/0001193125-23-039261-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.