J&J's CEO Gorsky Steps Aside With Duato Named His Successor
J&J's CEO Alex Gorsky is stepping down after almost 10 years in the role and will be replaced by vice chairman of the executive committee Joaquin Duato.
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J&J provided color on plans for standalone consumer health business during a business overview with analysts. Multiple separation pathways are being considered.
“As we watch the health care landscape continue to evolve, we think that it's only incumbent upon us to think about what kind of an impact that should have on our portfolio,” says CEO Alex Gorsky. The dependable revenue driver with iconic consumer health brands will be separated from J&J’s Rx drug and medical device division as a standalone, publicly traded company.
J&J reported worldwide consumer health and personal care product Q3 sales up 4.1% to $3.7bn driven by 18.2% increase in OTC drug sales. Excluding OTC, its consumer business results would have been down as sales for all other sectors slipped.