DEERFIELD, Ill., May 9 /PRNewswire-FirstCall/ -- At its Annual Meeting of Shareholders conducted today in Chicago, Baxter International Inc. executives reflected on Baxter’s 75-year legacy as an innovator and leader in the healthcare industry. Baxter’s Chief Executive Officer Robert L. Parkinson, Jr. and Chief Financial Officer John J. Greisch highlighted the financial progress that the company has made and the impact that recent investments in research and development and global expansion will have on furthering the quality of and access to healthcare.
“Our greatest growth opportunities are in developing markets, where access to healthcare is still limited, but where greater access and improved quality of care are increasingly becoming top priorities,” Parkinson said.
Parkinson also highlighted Baxter’s strong scientific, technological and manufacturing platforms that will drive future growth opportunities, citing several product launches and collaborations that have occurred over the last year.
“One of Baxter’s great strengths is our diversified healthcare model,” he said. “By combining biopharmaceuticals, medical devices and specialty therapeutics, Baxter possesses a unique blend of capabilities in the healthcare industry. It offers us the opportunity to realize operational, financial and organization synergies across our businesses, providing us with a unique competitive advantage.”
At the meeting, Baxter shareholders re-elected four members of the company’s board of directors: Walter E. Boomer, James R. Gavin III, M.D., Ph.D., Peter S. Hellman and K.J. Storm. Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for Baxter. Baxter’s shareholders also approved the reduction of the minimum number of directors on the company’s board from 12 to 9, and the maximum from 20 to 17. A proposal to eliminate the classified board and provide for the annual election of directors did not receive the vote required for passage.
In addition, Baxter’s board of directors elected Jeanne K. Mason, corporate vice president, human resources, as an executive officer of the company, effective May 15, 2006. The board also elected the following executives as corporate officers of Baxter: Karenann K. Terrell, corporate vice president and chief information officer; David P. Scharf, corporate vice president and corporate secretary; Marcelo A. Mosci, president, Latin America; Gerald Lema, president, Asia Pacific; and Michael J. Baughman, corporate vice president and controller.
A replay of Baxter’s Annual Meeting of Shareholders is available from a link on Baxter’s website at http://www.baxter.com . Please visit Baxter’s website for more information regarding future events and webcasts, including investor presentations.
Baxter International Inc., through its subsidiaries, assists healthcare professionals and their patients with the treatment of complex medical conditions, including hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other conditions. The company applies its expertise in medical devices, pharmaceuticals and biotechnology to make a meaningful difference in patients’ lives.
Baxter International Inc.
CONTACT: Media, Deborah Spak, +1-847-948-2349, or Tom Kline,+1-847-948-2251, or Investors, Mary Kay Ladone, +1-847-948-3371, or ClareSullivan, +1-847-948-3085, all of Baxter International Inc.
Web site: http://www.baxter.com/
