Baxter International said that as of March 16, 2026, Joel Grade's service as Executive Vice President and Chief Financial Officer has ceased and, as of that date, he has transitioned into a non-executive officer role and will continue employment with the company in an advisory capacity through April 30, 2026.

1. 01

   Baxter International said that as of March 16, 2026, Joel Grade's service as Executive Vice President and Chief Financial Officer has ceased and, as of that date, he has transitioned into a non-executive officer role and will continue employment with the company in an advisory capacity through April 30, 2026.

2. 02

   The company said that subject to Mr. Grade's compliance with the terms of a Confidential Transition and Separation Agreement effective March 15, 2026, including certain release requirements and restrictive covenant obligations, he is entitled to receive severance benefits under the qualifying termination provisions of the company's Executive Severance Plan for Group 1 Executives. The company said Mr. Grade's transition and separation was not the result of any disagreement with company management or the company's board of directors relating to the company's operations, policies or practices.

3. 03

   Baxter International said the Board appointed Anita Zielinski, the company's Senior Vice President and Chief Accounting Officer, as interim CFO effective March 16, 2026. It said Ms. Zielinski will also continue to serve in her current role and retain her responsibilities as Senior Vice President, Chief Accounting Officer and Controller while the company undertakes an executive search process for a permanent CFO.

4. 04

   The company said it entered into amended compensation arrangements with Ms. Zielinski providing a payment of $50,000 per month for each month Ms. Zielinski serves as interim CFO, and a one-time special award of restricted stock units with a value of $250,000, which will be scheduled to vest on the 3rd anniversary of the grant date.

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Original filing

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