Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Eric Sagonowsky (email) or Amirah Al Idrus (email | Twitter), and we will feature it here at the end of each week.
Former Covidien CEO Almeida to head Baxter |
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After spinning off its therapeutics business into Baxalta ($BXLT) in July, Baxter ($BAX) quickly became the target of activist investors Third Point. It has since offered Third Point a board seat and is now turning to former Covidien CEO José Almeida to lead its next chapter; he'll assume the CEO role Jan. 1. Robert Parkinson, Baxter's current CEO, will retire on that date and assume the role of chairman emeritus. Along with the announcement, Baxter said it's cutting $130 million in annual costs through the elimination of 1,400 nonmanufacturing positions as it seeks to move forward as an independent public company focused on renal and hospital products. Story | Release
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