Robert Parkinson Jr., a former president and chief operating officer at Abbott Laboratories, has been named chairman and chief executive officer of Baxter International. Parkinson, 53, succeeds Harry Kraemer Jr., who resigned in January. Baxter, which manufactures blood therapies, vaccines and IV delivery systems, saw its net income decline 11% to $881 million on $8.9 billion in revenue in 2003 amid sluggish sales, particularly in biosciences. Last summer, the company significantly reduced its plasma business and announced plans to cut nearly 6% of its workforce. Parkinson has been dean of Loyola University Chicago's School of Business Administration and Graduate School of Business since 2002. Previously he held a variety of management positions during a 25-year tenure at Abbott, including COO and president. Parkinson will join Baxter April 26. -- by Cinda Becker
Baxter names former Abbott Labs exec as CEO
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