Saccaro, who has been with Baxter for a cumulative 21 years including the last eight as finance head, is set to join another firm in the healthcare industry, the company said.

The departure comes as Baxter is set to divest its biopharma solutions business and plans to spin off its kidney care unit.

On Monday, the company said a private-equity group, which includes Warburg Pincus and Advent International, has agreed to buy its biopharma solutions unit for $4.25 billion.

Baxter named Brian Stevens as interim CFO, as it conducts a search for a new CFO.

(Reporting by Khushi Mandowara in Bengaluru; Editing by Sriraj Kalluvila)