Baxter International Inc., a leading medical technology company headquartered in Deerfield, Illinois, has announced the appointment of Andrew Hider as its new President and Chief Executive Officer. Hider, who currently serves as CEO of Canadian automation solutions provider ATS Corporation, is set to assume his new role at Baxter no later than September 3, 2025, pending the completion of his current obligations.
Brent Shafer, who has been serving as interim CEO since February 2025, will transition to the role of independent Chair of Baxter’s Board upon Hider’s arrival.
Andrew Hider brings over two decades of leadership experience across various industries, including automation, life sciences, and manufacturing. Since taking the helm at ATS Corporation in 2017, Hider has been instrumental in nearly doubling the company’s adjusted revenues over a five-year span, achieving a low-to-mid teens compound annual growth rate. Under his leadership, ATS’s stock price more than tripled on the Toronto Stock Exchange, significantly outperforming major indices during the same period.
Prior to his tenure at ATS, Hider served as President and CEO of the Taylor Made Group, LLC, and held various leadership roles at Danaher Corporation, including President of Veeder-Root. He began his career at General Electric, where he gained experience in manufacturing, project management, procurement, and finance.
Hider’s appointment comes at a pivotal time for Baxter, as the company seeks to navigate post-restructuring challenges and drive sustainable growth. Analysts view his background in industrial automation and operational efficiency as aligning well with Baxter’s focus on high-volume healthcare product manufacturing. Goldman Sachs has reiterated a “Conviction Buy” rating on Baxter stock, citing Hider’s appointment as a positive step toward improving strategic clarity.
Despite the leadership change, Baxter’s stock experienced a decline of over 4% following the announcement, while ATS shares saw a sharper drop of approximately 8.3%. Nevertheless, Baxter’s stock remains marginally positive for the year, whereas ATS’s shares turned negative.
Hider’s compensation package at Baxter reflects the company’s commitment to securing experienced leadership. His target direct compensation includes an annual base salary of $1.35 million, a target annual bonus opportunity of 150% of his base salary, and an initial target annual equity grant valued at $14 million. Additionally, he will receive a one-time cash payment of $1 million and a supplemental equity award of $4 million in performance share units. To compensate for unvested equity from his previous employer, Baxter will grant Hider a “make whole” award totaling $8.5 million in restricted stock units and performance share units.
As Baxter continues to evolve in the competitive medtech landscape, Hider’s leadership is anticipated to bring a renewed focus on operational excellence and innovation. His extensive experience in driving business growth and managing complex operations positions him to lead Baxter into its next chapter of development.
