Johnson & Johnson (JNJ) Appoints Alex Gorsky as Chief Executive Officer
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Price: $88.09 +0.73%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +8.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +8.7%
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Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has named Alex Gorsky Chief Executive Officer (CEO) of Johnson & Johnson effective April 26, 2012, the date of the Company's Annual Meeting of Shareholders. Mr. Gorsky was also nominated for election to the Board of Directors at the Annual Meeting.
Mr. Gorsky, 51, currently Vice Chairman of the Company's Executive Committee with responsibility for the Medical Devices & Diagnostics Group, Global Supply Chain, Health Care Compliance & Privacy and Government Affairs & Policy, succeeds Bill Weldon, who has served as Chairman and CEO of Johnson & Johnson since 2002. Mr. Weldon remains Chairman of the Board of Directors.
As CEO, Mr. Gorsky will assume full management responsibilities for Johnson & Johnson, including those currently reporting to him and to Mr. Weldon. As Vice Chairman of the Executive Committee, Sheri S. McCoy will report to Mr. Gorsky when he assumes the role of CEO. She will continue to lead the Pharmaceuticals and Consumer Groups, and maintain responsibility for Information Technology.
Mr. Gorsky will succeed Mr. Weldon, 63, as Chairman of the Company's Executive Committee on April 26. Mr. Weldon will relinquish his role on the Executive Committee at that time and work with Mr. Gorsky in the interim to ensure a seamless transition of leadership.
Mr. Gorsky holds a Bachelor of Science degree from the U.S. Military Academy at West Point, NY, and spent six years in the U.S. Army. In 1996, he earned a Master of Business Administration (MBA) degree from the Wharton School of the University of Pennsylvania.
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Mr. Gorsky, 51, currently Vice Chairman of the Company's Executive Committee with responsibility for the Medical Devices & Diagnostics Group, Global Supply Chain, Health Care Compliance & Privacy and Government Affairs & Policy, succeeds Bill Weldon, who has served as Chairman and CEO of Johnson & Johnson since 2002. Mr. Weldon remains Chairman of the Board of Directors.
As CEO, Mr. Gorsky will assume full management responsibilities for Johnson & Johnson, including those currently reporting to him and to Mr. Weldon. As Vice Chairman of the Executive Committee, Sheri S. McCoy will report to Mr. Gorsky when he assumes the role of CEO. She will continue to lead the Pharmaceuticals and Consumer Groups, and maintain responsibility for Information Technology.
Mr. Gorsky will succeed Mr. Weldon, 63, as Chairman of the Company's Executive Committee on April 26. Mr. Weldon will relinquish his role on the Executive Committee at that time and work with Mr. Gorsky in the interim to ensure a seamless transition of leadership.
Mr. Gorsky holds a Bachelor of Science degree from the U.S. Military Academy at West Point, NY, and spent six years in the U.S. Army. In 1996, he earned a Master of Business Administration (MBA) degree from the Wharton School of the University of Pennsylvania.
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