Johnson & Johnson CEO Bill Weldon to step down ..

imageJohnson & Johnson – Chairman of the Board and Chief Executive Officer,  William C. Weldon (Bill Weldon) will step down as the CEO. It is reported that Alex Gorsky, Vice Chairman of Johnson & Johnson’s Executive Committee and head of pharmaceuticals for Europe, Middle East and Africa would take over in Weldon’s place as CEO. Weldon, would continue as the Chairman of the company. The changes are supposed to take place starting April 2012.

Mr. Weldon assumed his current responsibilities in April, 2002. Previously Mr. Weldon served as Worldwide Chairman, Pharmaceuticals Group, and a Vice Chairman of the Board of Directors. He was elected to the Board in February, 2001. He had joined Johnson & Johnson in 1971 in the sales and marketing department of its McNeil Pharmaceutical subsidiary.

Weldon, has been with the company for more than 40 years, and for a long period has been one of the most respected executives in the drug industry. But a series of missteps over the past two years damaged his and his company’s reputation. The cases had been related to product recalls due to quality issues. The recalls had hurt the company’s financial performance, both in form on cost implications and reduced sales.

Alex Gorsky – to be take on the CEO’s role:

Alex Gorsky, began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Over the next 15 years, he advanced through positions of increasing responsibility in sales, marketing, and management. In 2001, Alex was appointed President of Janssen, and in 2003, he was named Company Group Chairman of Johnson & Johnson’s pharmaceuticals business in Europe, the Middle East and Africa.

– Research Team

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