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BAXTER WILL NOT REPLACE PRESIDENT TOBIN FOLLOWING DEC. 23 RESIGNATION

Executive Summary

BAXTER WILL NOT REPLACE PRESIDENT TOBIN FOLLOWING DEC. 23 RESIGNATION; his duties as chief operating officer are being reallocated to the three remaining members of Baxter's Office of the Chief Executive: Chairman/CEO Vernon Loucks, Exec VP-Hospital Business Lester Knight, and Exec VP-Global Business Tony White. James Tobin, 49, resigned as president, chief operating officer and board member "effective immediately."

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