This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

J&J Taps Bayer Exec For New Post Over 3 Divisions


TRENTON, N.J. (AP) â¿¿ Johnson & Johnson is hiring a Bayer Group executive for a new position overseeing J&J's troubled consumer health and manufacturing operations, as new CEO Alex Gorsky tackles key problems at the health care giant.

It's the first big executive move by Gorsky, who became CEO in April and pledged to fix a host of quality, legal and ethical problems involving consumer and other products and sales practices.

New Brunswick, N.J.-based Johnson & Johnson said Thursday that Sandra E. Peterson, the chief executive of Bayer CropScience, will join J&J on Dec. 1.

She will be the first outsider ever appointed to the executive committee that manages J&J operations. The committee will expand from four to six members with the addition of Peterson and worldwide pharmaceuticals head Paul Stoffels, who now will add the role of chief scientific officer.

The expansion is meant to heighten J&J's focus on science and improve execution of its strategy, spokeswoman Carol Goodrich said.

Peterson also will become a group worldwide chairman, expanding that group from five to six. Besides overseeing the recall-plagued consumer health business and J&J's factories and supply chain, she will have responsibility for information technology. The manager of each of those divisions will report to her.

Goodrich noted Peterson has leadership experience in pharmaceuticals, medical devices and consumer goods â¿¿ J&J's three business segments â¿¿ as well as health information technology and strategy development.

"She can leverage her IT and supply chain background to address the critical current needs in our consumer business," Goodrich said.

J&J, the world's most diversified health care company, sells prescription drugs, medical devices and diagnostic equipment, along with over-the-counter drugs and a stable of toiletries such as Listerine mouthwash that are household names.

For the past two years, Peterson, 52, has run Bayer's crop business, which sells seeds and chemical and biological crop protection products. Before that, she was chief executive of Bayer Medical Care and president of the Diabetes Care Division of Bayer HealthCare. She's been a member of Bayer Healthcare's executive committee for seven years.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%
YHOO $36.61 0.06%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs