This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

Earlier in her career, the New York native served as an executive at a few American companies.

In 1999, she became a senior vice president at drugmaker Merck & Co.'s prescription benefit management business, Medco. She played a role in Medco's 2003 spinoff as an independent company. She then was a group president of Medco Health Solutions Inc., which became part of what's now called Express Scripts Holding Co. this summer.

Peterson previously served as an executive at foodmaker Nabisco, now part of Kraft Foods Inc., and at appliances manufacturer Whirlpool Corp. She also worked on product development and brand marketing strategies while a management consultant at McKinsey & Co. from 1987 through 1993.

"Sandy Peterson is an experienced global leader known for her strategic thinking and proven track record in growing businesses," Gorsky said in a statement.

Gorsky has said his priorities include restoring quality and ending recalls in the company's consumer health business, plus rounding out the executive team.

Consumer health is the smallest of J&J's three business segments, with sales of $14.9 billion last year, but it's far and away the most visible division to the general public.

Its many brands have long been staples on the shelves of pharmacies, grocery stores and discounters, from the iconic Johnson & Johnson's Band-Aids and No More Tears baby shampoo to o.b. tampons and Aveeno and Neutrogena skin care products.

In the past three years, it's had an eye-popping series of more than two dozen product recalls, for nonprescription medicines including Tylenol, Motrin, Benadryl and Sudafed. Reasons range from tiny glass and metal shards in some liquid medicines to the wrong levels of active ingredients and nauseating odors in product packaging.

Besides tarnishing the image of a company that insists it still follows its credo of putting patients, doctors and employees ahead of profits, the recalls have hurt J&J's finances, costing it more than $1 billion in lost sales. That's a key reason total company revenue declined in 2009 and 2010, a first since the Depression. In addition, J&J has cited higher-than-expected remediation costs as it rebuilds one of its consumer products factories from the ground up, and two others have production slowed by increased government scrutiny.

2 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs