The J&J CEO Race Begins

As reported by the Wall Street Journal, Johnson & Johnson has promoted the heads of it’s two largest businesses thus further intensifying the race to succeed William Weldon as chairman and CEO of the global pharma company.

Alex Gorsky, ex-chief of the company’s medical devices and diagnostics division, and Sheri McCoy, who has been responsible for running J&J’s pharmaceutical’s group, were both named chairmen in the expanded Office of the Chairman. These appoitments have set the stage for the selection of the pharmaceutical company’s next leader.

It is expected that the 62 year old, Mr. Weldon will step down for at least a year, thus giving his potential successors a chance to prove themselves in their new roles.

Under the new changes, it is expected that Gorsky and McCoy will split the company’s various responsibilities. Gorsky will be concentrating on managing more employees and taking control of the new manufacturing and supply group. Whilst McCoy will take charge of the businesses generating three-fifths of the company’s revenue and will gain oversight of the consumer business that includes the McNeil Consumer Healthcare unit responsible for the bulk of recalls.

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