---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-249637"
form_type: "8-K"
ticker: "BAX"
cik: "0000010456"
company_name: "BAXTER INTERNATIONAL INC"
filed_at: "2023-10-03T23:59:59+00:00"
generated_at: "2026-06-10T05:09:34.816013+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Baxter appoints Joel Grade as CFO effective Oct 18, 2023

## Summary
- Joel Grade named EVP and CFO; Brian Stevens returns to prior role as SVP, chief accounting officer and controller.
- Grade joins from Sysco where he served as EVP corporate development and previously EVP and CFO.
- Compensation includes $800K base salary, 100% target bonus, $3.6M LTIP target value, and $500K supplemental cash payment.
- Two one-time equity grants: $3.6M (50% PSUs, 25% RSUs, 25% stock options) and $1M in RSUs.
- Grade has 25 years at Sysco; holds BS from University of Wisconsin and MBA from Northwestern.

## SEC filing metadata
- accession: 0001193125-23-249637
- form_type: 8-K
- ticker: BAX
- cik: 0000010456
- company_name: BAXTER INTERNATIONAL INC
- filed_at: 2023-10-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/0001193125-23-249637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/d555922d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-249637
- JSON: https://secwatch.observer/filing/0001193125-23-249637.json
- Plain text: https://secwatch.observer/filing/0001193125-23-249637.txt

## Key facts
- Executive change
  Joel T. Grade was appointed as Executive Vice President and Chief Financial Officer at BAXTER INTERNATIONAL INC.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: On September 29, 2023, Baxter International Inc. (the “Company”) appointed Mr. Joel T. Grade as its Executive Vice President and Chief Financial Officer, effective as of October 18, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/0001193125-23-249637-index.htm
- Executive change
  Brian Stevens changed role as Senior Vice President, Chief Accounting Officer and Controller at BAXTER INTERNATIONAL INC.
  - Action: ceased serving as interim Chief Financial Officer and will continue serving as Senior Vice President, Chief Accounting Officer and Controller
  - Role: Senior Vice President, Chief Accounting Officer and Controller
  source text: In connection with his appointment, on October 18, 2023, Brian Stevens will cease serving as the Company’s interim Chief Financial Officer and will continue serving as the Company’s Senior Vice President, Chief Accounting Officer and Controller.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/0001193125-23-249637-index.htm

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