Baxter names chief financial officers within new business structure

Baxter has appointed new chief financial officers (CFOs) both for its core organisation and for the new independent company that will be formed following the spinoff of its biopharmaceuticals unit.

Robert Hombach, the current CFO for Baxter International, will take up the same role within the independent business, as well as assuming additional operational responsibilities. He will report to Ludwig Hantson, the new firm's chief executive officer.

Meanwhile, James Saccaro – who previously worked at Baxter for several years before leaving to join Hill-Rom – will return to the company on August 4th 2014 to take up the CFO role.

Both businesses require disciplined financial management, including a strong focus on driving performance and enhancing shareholder value, which is why these Baxter veterans have been selected for the roles.

Robert Parkinson Jr, Baxter's chairman and chief executive officer, said: "Both are extraordinary executives who bring deep knowledge of the businesses, financial experience and leadership as we advance our work to create two separate, independent healthcare companies."

Next week, the company will be discussing its financial performance for the second quarter of 2014 during a conference call scheduled on July 17th.