Baxter International Inc. (BAX, Financial) has announced a significant change in its Board of Directors. On November 18, 2024, Mr. Peter M. Wilver notified the company of his decision to resign from the Board, including his roles on the Audit Committee and the Compensation and Human Capital Committee, effective December 31, 2024. Mr. Wilver cited personal reasons for his departure, clarifying that it was not due to any disagreements with the company's management or its operational policies and practices.
Following Mr. Wilver's resignation, the Board will reduce its number of directors to 11. In a strategic move, Mr. Jeffrey A. Craig, a current director and member of the Audit Committee, will assume the role of chairperson of the Audit Committee. Mr. Craig brings a wealth of experience to this position, having previously served as the Chief Executive Officer and President of Meritor, Inc. He has also held leadership roles at General Motors Acceptance Corp., including its Commercial Finance organization and Business Credit division, and has a background as an audit partner with Deloitte & Touche LLP.
This transition marks a new chapter for Baxter International as it continues to strengthen its governance and leadership structure. Investors and stakeholders will be keenly observing how these changes impact the company's strategic direction and operational efficiency.
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