Three New Units to Focus on Convergence and New Opportunities
NEW BRUNSWICK, N.J., Nov. 15 /PRNewswire-FirstCall/ -- Johnson &
Johnson today announced a series of organizational changes to sharpen its
focus on opportunities outside its traditional areas of interest and in the
growing intersections of health care. These include the creation of a new
strategy and growth organization and two new business operating groups. The
changes are designed to accelerate growth for Johnson & Johnson by building
on the unique strengths afforded by the Company's broad base of businesses
and decentralized structure.
A new Office of Strategy and Growth will identify opportunities for
future growth that are distinct from those being pursued by the Company's
existing businesses; a Surgical Care Group will focus on advancing
technologies, solutions and services to enhance patient care in the
surgical setting; and a Comprehensive Care Group will create portfolios to
address some of the world's most chronic and pervasive conditions, such as
metabolic disorders, through the convergence of technologies, products and
services.
"These decisions recognize that a new environment is emerging in human
health and well-being," said William C. Weldon, Chairman and Chief
Executive Officer of Johnson & Johnson. "They reflect our assessment of the
best way for us to capture and develop the opportunities associated with
those changes and they capitalize on the unique, broadly-based,
decentralized approach of Johnson & Johnson."
The Office of Strategy and Growth will be led by Nicholas J. Valeriani,
currently Worldwide Chairman, Medical Devices and Diagnostics. The new
office will identify new growth opportunities distinct from existing
pursuits that are strategic fits for Johnson & Johnson and that have the
potential for significant impact on human health. As part of his role, Mr.
Valeriani will assume responsibility for the Johnson & Johnson Development
Corporation, the Corporate Office of Science and Technology, and Worldwide
Operations. The devices and diagnostics companies under Mr. Valeriani's
current leadership will serve as the foundations for two new business
operating groups, Surgical Care and Comprehensive Care.
Sherilyn S. McCoy, currently Company Group Chairman for Ethicon, will
assume the role of Worldwide Chairman, Surgical Care, and will become a
member of the Executive Committee of Johnson & Johnson, reporting to the
CEO. Franchises comprising the Surgical Care Group will include Ethicon,
Ethicon Endo-Surgery and DePuy.
Donald M. Casey, Jr., currently Company Group Chairman for the Diabetes
franchise that includes LifeScan and Animas, will assume the role of
Worldwide Chairman, Comprehensive Care, and will become a member of the
Executive Committee, reporting to the CEO. Franchises comprising the
Comprehensive Care Group will include Diabetes, Cordis, Johnson & Johnson
Vision Care and Ortho- Clinical Diagnostics.
Each of the new organizations and appointments become effective,
January 1, 2008.
"Much of the change in health care reflects the coming together of
parts of the system that were at one time separate," Mr. Weldon said. "The
very solutions that the health care system most needs -- those coming from
the convergence of science, technology and services -- are the ones we are
most capable of providing. We have the know-how across our pharmaceutical,
biologics, devices, diagnostics and consumer businesses to bring completely
new solutions to market. And we believe we can accelerate growth through a
dedicated focus on the intersection of our existing capabilities, customer
needs and emerging trends."
Separately, Joseph Scodari, Worldwide Chairman, Pharmaceuticals,
informed the company of his intention to retire in early 2008. Mr. Weldon
said that Mr. Scodari first spoke to the Company about his desire to retire
several years ago, but agreed to remain in a leadership position for an
extended time. "We have deeply valued Joe's counsel and steady guidance in
building future opportunities for our pharmaceutical businesses," Mr.
Weldon said.
Christine Poon will assume direct responsibility for the company's
pharmaceutical and biological businesses and will continue as Vice Chairman
of the Board of Directors. Ms. Poon's other corporate responsibilities have
been reassigned to permit her to focus on the pharmaceutical and biological
areas.
Johnson & Johnson's Consumer businesses are not directly impacted by
today's announcements. Under the guidance of Colleen Goggins, Worldwide
Chairman, Johnson & Johnson Consumer Group, the integration of the Pfizer
Consumer Healthcare business continues to track ahead of the original
acquisition plan.
Johnson & Johnson is the world's most comprehensive and broadly-based
manufacturer of health care products, as well as a provider of related
services, for the consumer, pharmaceutical, and medical devices and
diagnostics markets. The more than 250 Johnson & Johnson operating
companies employ approximately 120,000 men and women in 57 countries and
sell products throughout the world.
SOURCE Johnson & Johnson
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CONTACT:
Press: Jeffrey J. Leebaw, +1-732-524-3350; or
Investor Contacts: Louise Mehrotra, +1-732-524-6491, Stan
Panasewicz, +1-732-524-2524, Lesley Fishman, +1-732-524-3922
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