Following long-time chief José Almeida’s retirement earlier this year, Baxter announced it has officially named a new CEO.
Andrew Hider will join the medtech after about eight years of leading ATS, a provider of factory automation solutions across multiple industries, including the life sciences. The company said he will take the helm no later than September 3.
The Baxter that Hider will inherit aims to be significantly leaner, following a restructuring plan that saw the company sell its Vantive kidney care unit to The Carlyle Group in February, through a $3.8 billion deal. Before that, the company traded its biopharma solutions business to the private equity firms Warburg Pincus and Advent International for $4.25 billion.
“Baxter has undergone a significant transformation over the last few years, refocusing the company and better positioning it for the future,” Hider said in a statement. “I look forward to partnering with the Board and working alongside my talented future colleagues to accelerate innovation, further enhance our performance and redefine healthcare delivery while driving sustainable, long-term growth.”
During his time as CEO of the Ontario, Canada-based ATS—which also works with international manufacturers in food and beverage, transportation, energy and consumer products—the company nearly doubled its adjusted revenue over five fiscal years while restructuring and pivoting its portfolios, according to Baxter.
Prior to that, Hider was president and CEO of Taylor Made Group, a maker of boating hardware, and he previously spent 10 years at Danaher across various roles, including president of its Veeder-Root subsidiary.
“Andrew is an exceptional leader with a strong track record of operational excellence, disciplined execution and innovation. We are excited that he will be Baxter’s next CEO,” said Brent Shafer, who served as interim CEO since Almeida’s retirement in February.
“Andrew’s leadership at global, diversified companies underscores his ability to manage complex operations and generate value for shareholders while maintaining a focus on quality and important customer-centric missions,” added Shafer, who will now sit as independent chair of Baxter’s board. “We are confident he is the right executive to lead Baxter into its next chapter.”