Baxter International has announced in a press release that it has appointed Jose Almeida as its new chairman and CEO effective on January 1, 2016.
He will be succeeding Robert L. Parkinson, Jr. who will retire from his role also on January 1, 2016.
Thomas T. Stallkamp, the lead independent director of Baxter, said in the press release that they are happy with the appointment of Almeida.
"Joe has more than 24 years of global healthcare experience and an outstanding record of results and clear alignment to our strategy and culture, which led the board to unanimously endorse him as the right leader for the company," he said.
He adds in the press release that the company is also thankful for Parkinson's "leadership, integrity and vision."
He said that Parkinson has "transformed and prepared Baxter for sustained success."
People familiar with the matter told The Wall Street Journal that the several of Baxter's biggest shareholders have pushed for the hiring of Almeida.
The company has been searching for a month for a successor to Parkinson, who has headed Baxter since 2004.
The Wall Street Journal adds that the leadership change is a win for Third Point LLC, an activist hedge fund who owns a nearly 10 percent stake at the company.
Third Point said in August, when it disclosed its investment at Baxter, that it is supportive of the CEO transition.
One person familiar with the company told The Wall Street Journal that Baxter was going to hire an outsider to succeed Parkinson.
This is because there weren't any obvious internal prospects who could succeed Parkinson.
Almeida served as chairman, president and CEO of Covidien PLC from 2012 to 2015, according to the press release.
He was named as director of Covidien in 2011.
Prior to his appointment as head of Covidien, Almeida served as president of the Medical Devices organization of Covidien, according to the press release.
He oversaw several businesses and accounted for about two-thirds of the company's total annual revenues and about three-quarters of its operating profit while in this position.
Aside from Covidien, Almeida also held leadership positions at Wilson Greatbatch Technologies, Inc., American Home Products' Acufex Microsurgical division, and Johnson & Johnson's Professional Products division, according to the press release.
He graduated from Escola de Engenharia Mauá in São Paulo with a bachelor of science degree in mechanical engineering.
