Baxter Appoints Andrew Hider To Succeed Jose Almeida As CEO: Retail Sentiment Falters

Shares of Baxter International Inc. (BAX) fell over 2% on Monday morning after the medtech company announced that it has appointed Andrew Hider as president and chief executive officer.

Hider will take up his responsibilities no later than Sept. 3 or at an earlier date after completing his current commitments at ATS Corporation (ATS), the company said. Hider has been serving as CEO of ATS, who providers automation solutions for companies including in the life sciences, food and beverage, and consumer products industries, since 2017.

Prior to joining ATS, Hider served as president and CEO of the Taylor Made Group, LLC, and served in several leaderships roles at life sciences and diagnostics company Danaher Corporation.

Baxter has been without a permanent CEO since February when José E Almeida retired from his executive roles, including that of the CEO. Since then, Brent Shafer has been serving as chair and interim CEO of the company.

Shafer will now transition to independent chair of the Baxter Board, the company said.

In the first quarter of 2025, Baxter’s worldwide sales from continuing operations totalled about $2.63 billion, marking a growth of 5% year-on-year, after production at its North Cove manufacturing site was disrupted to the second half of 2024 following a flooding event caused by Hurricane Helene.

In May, the company said that its inventory levels are restored.

Net income per diluted share for the quarter came in at $0.55, on top of the company’s original guidance.

The company also divested its kidney care business to investment firm Carlyle in January for $3.8 billion.

On Stocktwits, retail sentiment around Baxter fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours while message volume remained at ‘high’ levels.

BAX stock is up by about 4% this year but down by about 10% over the past 12 months.

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