Baxter International Inc. (NYSE:BAX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On February19, 2018, Mr.K.J. Storm notified Baxter International Inc. (the “Company”) of his decision to retire from the Board of Directors of the Company (the “Board”) and the Audit Committee and the Corporate Governance Committee, effective as of May7, 2018, the day prior to the Company’s 2018 annual meeting.
In connection with Mr.Storm’s retirement, Mr.AlbertP.L. Stroucken has been appointed as the new chairman of the Audit Committee effective as of May7, 2018. Mr.Stroucken has served on the Board and Audit Committee since 2004. He is the former Chairman, President and Chief Executive Officer of Owens-Illinois, Inc. The Board has determined that Mr.Stroucken is an “audit committee financial expert” as defined by the rules of the U.S. Securities and Exchange Commission.
After giving effect to Mr.Storm’s retirement, the Audit Committee should consist of the following members as of May7, 2018: Albert Stroucken; Peter Hellman; Munib Islam; Cathy Smith; and Thomas Stallkamp.
About Baxter International Inc. (NYSE:BAX)
Baxter International Inc., through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures IV solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, inhalation anesthetics, and biosurgery products. The business also provides products and services related to pharmacy compounding, and drug formulation. The Renal business provides products and services to treat end-stage renal disease, or irreversible kidney failure and acute kidney injuries.