Baxter plans spinoff of Renal Care & Acute Therapies into public company; COO resigns

BAXTER INTERNATIONAL INC

Spinoff of Renal Care and Acute Therapies into independent public company expected in 12-18 months; 2021 sales of those businesses ~$5B.
Exploring strategic alternatives for BioPharma Solutions (BPS), including a potential sale or other separation.
Simplifying operating model and manufacturing footprint; restructuring details to be provided on Feb 9, 2023 earnings call.
COO Giuseppe Accogli resigned effective January 4, 2023; no longer an executive officer.
New kidney care company would address ~$15B market with estimated 3-4% CAGR over next three years.

item 5.02 item 7.01 item 9.01

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Departed

Giuseppe Accogli

Executive Vice President and Chief Operating Officer

BAX · BAXTER INTERNATIONAL INC

Effective: 2023-01-04
Filed: January 6, 2023, 6:59 PM ET

On January 4, 2023, Giuseppe Accogli, the Executive Vice President and Chief Operating Officer of Baxter International Inc. (“Baxter” or the “Company”), resigned as Executive Vice President and Chief Operating Officer of the Company effective immediately and no longer serves as an executive officer of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Giuseppe Accogli resigned as Executive Vice President and Chief Operating Officer at BAXTER INTERNATIONAL INC.

Action: resigned
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

On January 4, 2023, Giuseppe Accogli, the Executive Vice President and Chief Operating Officer of Baxter International Inc. (“Baxter” or the “Company”), resigned as Executive Vice President and Chief Operating Officer of the Company effective immediately and no longer serves as an executive officer of the Company.

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Source: SEC EDGAR

accession 0001628280-23-000551

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