J&J Finance Chief Retiring

Johnson & Johnson (JNJ Quote) said finance chief Robert J. Darretta will retire early next year.

The New Brunswick, N.J., healthcare giant said Daretta has been with the company for 38 years. He'll be replaced by Dominic J. Caruso, vice president of Johnson & Johnson's group finance organization.

"During Bob's tenure over the past decade as chief financial officer, he has been instrumental in helping the company deliver consistent, sustainable and superior performance," said CEO William C. Weldon. "He has been a visible and eloquent proponent of Johnson & Johnson's enduring strategic principles, and a strong advocate for the importance of Our Credo in underpinning our shared value system. We wish Bob, his wife Mary Ellen and their family the very best in the years ahead."

Caruso joined Johnson & Johnson in October of 1999 through the acquisition of Centocor.