WSJ BLOG/Health: J&J CEO Succession: Who is Alex Gorsky?
First Published Tuesday, 21st February 2012 10:43 pm - © 2012 Dow Jones
(This story has been posted on The Wall Street Journal Online's Health Blog at http://blogs.wsj.com/health.)
By Katherine Hobson
Johnson & Johnson will name Alex Gorsky as its next CEO, succeeding William Weldon, the WSJ reports.
Both Gorsky and Sherilyn McCoy were in late 2010 appointed to an expended "office of the chairman" and given new duties as part of an apparent succession race to lead the pharma company.
At that time, Gorsky added oversight of the global supply chain, government affairs and policy and J&J's venture-capital arm to his existing duties heading up the company's medical devices and diagnostics unit.
As the WSJ reported then, Gorsky and McCoy each took on a portion of the responsibility for dealing with the quality-control problems that led to a spate of recalls.
This is Gorsky's second stint at J&J. He began his career at the company in 1988 as a sales rep with Janssen Pharmaceutica, according to his company bio, and eventually became company group chairman of J&J's pharma business in Europe, the Middle East and Africa.
In 2004 he joined the Swiss pharma giant Novartis as head of the company's North American pharma business.
And in 2008, Gorsky returned to J&J to become company group chairman of Ethicon, a medical device unit that makes surgical equipment and sutures. In 2009 he became worldwide chairman of medical devices and diagnostics.
Gorsky will take over from Weldon at J&J's annual meeting on April 26. Dow Jones Newswires reporter Peter Loftus points out to us, citing an SEC filing, that Gorsky will get a raise along with his promotion, to a base salary of $1.2 million.
The WSJ reports, citing a person familiar with the matter, that the company wants to retain McCoy.
Image: Associated Press
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