Saccaro leaves Baxter at the end of May after 21 years at the company, including the past eight as CFO. He takes up the title of SVP and CFO and GE HealthCare, effective June 1, 2023.
Baxter named Brian Stevens as acting CFO as it conducts a search to fill the role. Stevens joined in 2018 as SVP, chief accounting officer and controller. He continues to undertake responsibilities for those roles while acting as CFO.
“Jay has been an invaluable member of Baxter’s leadership team throughout his career,” said José (Joe) E. Almeida, Baxter chair, president, and CEO. “He’s been a true partner as CFO as we’ve worked to reposition and refocus our business. We thank Jay for all he has contributed and wish him the very best in his next role.”
Saccaro called it “a privilege” to work at Baxter and help fulfill the company’s mission.
“I am confident that Brian’s significant leadership experience in finance and accounting roles and the deep understanding of our business he has built will position him well to take on the role of acting CFO after my departure,” Saccaro said.
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The former Baxter exec moves to GE HealthCare
In a separate news release, GE HealthCare confirmed Saccaro’s appointment. He succeeds Helmut Zodl, who remains with GE HealthCare to lead special projects regarding its separation from GE.
Before his eight years as Baxter CFO, Saccaro also served as SVP and CFO at Hillrom. He previously held the role of VP and treasurer at Baxter, having initially joined in 2002 as manager of strategy for its BioScience business.
“I am thrilled to join GE HealthCare and be part of the exciting innovation the company is driving within the precision care space,” said Saccaro. “This is an outstanding team with a clear strategic vision, deep experience, and a commitment to financial discipline. I look forward to leading the finance organization as GE HealthCare executes on its strategy of delivering profitable growth and value creation for shareholders.”
GE HealthCare President and CEO Peter Arduini called Saccaro “a world-class CFO” with a deep knowledge of the industry.
“I am excited that Jay has agreed to serve as our CFO, as our company executes on our strategic growth plan and achieves our purpose to create a world where healthcare has no limits and continues to deliver on our promises to customers and shareholders,” said Arduini. “I want to thank Helmut for his leadership during the leadup and spin-off from GE and for creating tremendous momentum that we will continue to build on under Jay.”
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