J&J Taps Bayer Exec For New Post Over 3 Divisions
LINDA A. JOHNSON
TRENTON, N.J. (AP) 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 J&J's three business segments 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.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV