I worked for Baxter many years. The previous CEO and board of directors have essentially destroyed the company. Our group has never worked so much, only to see our efforts being wasted by upper management. This management failed to innovate, failed to protect the current portfolio and managed in achieving not a single successful acquisition. Parts of the business have been sold, only to pay down debt for failed acquisitions.
Despite the consistent blunders, management still think it is appropriate to act arrogant, applaud their own efforts and reward themselves with large bonuses for a job well done. This is exemplified by our former CEO, Joe Almeida; flying the corporate jet, inflated pay, bragging about his watch collection, his >1 Million Marriott points, etc. Although no longer at the company, he is still being paid as an advisor. This is simply incomprehensible.
