Mr Davis had previously served as corporate vice president and chief financial officer for Baxter. Concurrent with this change, Robert Hombach has been named corporate vice president and chief financial officer. Mr Hombach previously served as corporate vice president and treasurer for Baxter.

Reportedly, Mr Davis has served as chief financial officer since 2006. He joined Baxter as treasurer in November 2004 from Eli Lilly and Company, where he served in numerous positions of increasing responsibility over 14 years.

Baxter added that Mr Hombach joined Baxter in 1989 and has served in a number of finance positions with increasing responsibility in the planning, manufacturing, operations, and treasury areas. Prior to his role as treasurer, he served as vice president of finance, Europe, and as vice president of corporate planning and analysis, where he led several enterprise-wide initiatives and served as a member of Baxter’s strategy team.

Robert Parkinson, chairman and chief executive officer, said: “We are grateful for Bruce’s many contributions over his 30-year career at Baxter. Both Rob and Bob have served successfully in a variety of leadership roles, and these new responsibilities further expand the breadth of their expertise.”

Baxter International, through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people. As a global, diversified healthcare company, Baxter applies a combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.