Healthcare Industry News: Baxter International
News Release - May 17, 2006
Baxter Appoints John Greisch President of International; Treasurer Robert Davis Succeeds Greisch as CFODEERFIELD, Ill., May 17 (HSMN NewsFeed) -- Baxter International Inc. (NYSE: BAX ) today announced that the company has named John J. Greisch to the newly created role of corporate vice president and president, International. Greisch, 50, who has served as the company's chief financial officer since 2004, assumes responsibility for Baxter's operations outside the United States. Robert M. Davis, 39, currently the company's treasurer, succeeds Greisch as corporate vice president and chief financial officer. Greisch and Davis will report to Robert L. Parkinson, Jr., Baxter's chairman and chief executive officer. Both appointments are effective immediately.
"These appointments reflect the confidence that the board and I have in John and Rob," said Parkinson. "John's proven financial and operational track record -- as CFO and previously as president of Bioscience -- together with his international experience prior to joining Baxter make him the ideal candidate to lead our international operations, which account for over 50 percent of the company's revenues. John's leadership will allow us to better capitalize on Baxter's market-leading positions and global expansion opportunities that will drive future growth."
Greisch joined Baxter in 2002 as vice president of finance for Baxter's Renal business. In 2003, he assumed the role of vice president of finance and strategy for Baxter's BioScience business before being named president of BioScience in January 2004. He was named corporate vice president and chief financial officer in June 2004. Greisch received a bachelor's degree in business administration from Miami University and a master's degree in management from Northwestern University's Kellogg Graduate School of Management.
Parkinson added: "Rob has worked closely with John since joining the company in 2004, and during that time he has contributed significantly to our success in strengthening Baxter's financial position. We are very pleased to have someone of Rob's caliber to step into this important role."
Since his appointment as treasurer in 2004, Davis has been overseeing Baxter's global treasury operations, including pension investments, insurance risk management, capital markets and cash management. In addition, he has had responsibility for Baxter's captive leasing company and U.S. credit and collections activities. Davis will retain his current treasurer responsibilities on an interim basis until a successor is named.
Prior to joining Baxter, Davis served in a number of financial roles for Eli Lilly and Company, including assistant treasurer, director of corporate financial planning, tax counsel and corporate tax planning. Davis earned his law degree from Northwestern University School of Law and a master's degree in management from Northwestern University's Kellogg Graduate School of Management after graduating from Miami University with a bachelor's degree in finance.
The company also announced that James E. Utts, president of Baxter Europe since 2004, has decided to retire from the company on August 4. During his career with Baxter, Utts held a number of senior leadership positions in marketing and general management in the United States, Canada and Europe. "Jim has brought tremendous focus and direction to Baxter's European region since his appointment two years ago," said Parkinson. "His many contributions to Baxter during his 31-year career are well recognized throughout the company."
Baxter International Inc., through its subsidiaries, assists healthcare professionals and their patients with treatment of complex medical conditions, including cancer, hemophilia, immune disorders, kidney disease, and trauma. The company applies its expertise in medical devices, pharmaceuticals, and biotechnology to make a meaningful difference in patients' lives.
Source: Baxter International
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