Baxter International CFO Joel Grade to depart for family reasons

Baxter International Inc. announced that Joel Grade is stepping down as executive vice president and chief financial officer to focus on family matters, marking a leadership change as the global medical technology company works to stabilize its business.

Grade will remain with the company in an advisory role through April 30, 2026, Baxter said. The company has appointed Anita Zielinski as interim CFO effective immediately while it searches for a permanent replacement.

Zielinski joined Baxter in 2025 as senior vice president, chief accounting officer and controller, positions she will maintain alongside her new interim duties. She previously served as senior vice president and CFO of U.S. Foodservice Operations at Sysco Corporation, the company's largest business segment. Before Sysco, Zielinski spent more than two decades at Ernst & Young LLP, where she rose to audit partner.

"Joel has supported Baxter through a period of significant transformation, and we greatly appreciate his contributions and partnership," said Andrew Hider, president and chief executive officer, in a statement. "Baxter remains well positioned for value creation and continues to prioritize stabilizing the business, strengthening our balance sheet, and driving a culture of continuous improvement."

Hider expressed confidence that Zielinski and the finance team would "provide strong leadership to ensure this continuity during the transition."

Baxter, headquartered in the Chicago suburb of Deerfield, is a major player in the medical technology industry with a portfolio spanning pharmaceuticals, nutrition products and medical devices. The company employs approximately 37,500 people worldwide and reported revenues of $11.2 billion in 2025.

The company has undergone significant restructuring in recent years. In 2024, Baxter completed the divestiture of its kidney care business, Vantive, creating two independent publicly traded companies. The separation allowed Baxter to focus on its core acute therapies, pharmaceuticals and surgical care businesses.