Baxter International Inc.
11/22/2024 | Press release | Distributed by Public on 11/22/2024 15:35
Management Change/Compensation Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 18, 2024, Mr. Peter M. Wilver notified Baxter International Inc. (the "Company") of his resignation from the Board of Directors of the Company (the "Board") and the Audit Committee and Compensation and Human Capital Committee thereof, effective December 31, 2024. Mr. Wilver has indicated that his departure from the Board was for personal reasons and is not the result of any disagreement with management, including with respect to the Company's operations, policies or practices.
Upon the effectiveness of Mr. Wilver's resignation, the number of directors constituting the Board shall automatically decrease to 11 directors. Further, Mr. Jeffrey A. Craig, a current director and member of the Board's Audit Committee, will become the chairperson of the Audit Committee upon the effectiveness of Mr. Wilver's resignation.
Mr. Craig is the former Chief Executive Officer and President of Meritor, Inc. ("Meritor"), having held various positions with Meritor between 2006 and 2021. Before that time, Mr. Craig was President and CEO of various divisions of General Motors Acceptance Corp. ("GMAC"), including its Commercial Finance organization and Business Credit division. He joined GMAC after serving as an audit partner with Deloitte & Touche LLP.