Medical Equipment Maker Baxter International Names New CEO

Baxter International on Monday named Andrew Hider, chief executive of Canadian automation solutions firm ATS Corp., its new CEO. 

Deerfield, Illinois-based Baxter (BAX), a medical equipment company with a market capitalization of roughly $15 billion, said Hider would “assume his responsibilities at Baxter no later than Sept. 3, 2025, or an earlier date pending completion of his current employment commitments.” Brent Shafer, who has served as interim CEO at Baxter since February, will remain board chair once Hider assumes his role.

Cambridge, Ontario-based ATS (ATS) said Hider, its CEO since 2017, would be stepping down “to pursue a new leadership opportunity outside the automation industry.” It added that Hider’s departure “is expected to be by the end of August on a date to be determined by the Board,” and that CFO Ryan McLeod would serve as interim CEO upon his exit.

Shares of both companies fell on Monday afternoon, with those of Baxter declining by more than 4% and those of ATS dropping by about 8.3%. Baxter stock remains slightly positive for the year but ATS shares moved into negative territory for 2025 on the news.