Johnson & Johnson announced this week that Sheri S. McCoy, vice-chairman of the Executive Committee, has resigned from the company. She was considered to be in line for the CEO position, being filled by Alex Gorsky.
McCoy, who joined J&J in 1982, is reportedly moving on to head Avon, a smaller company in comparison to J&J but with similar healthcare products in the cosmetic and skincare area.
“Sheri has made important contributions across Johnson & Johnson throughout her career. During these last several years, she was instrumental in helping to bring stronger strategic focus to our Pharmaceutical business as it builds a robust pipeline and launches important new medicines; and to our Consumer business as it leverages the success of its iconic brands and worked to resolve some recent challenges,” said J&J CEO and Chairman William C. Weldon, in a company statement.
J&J announced earlier this year that Gorsky would be succeeding Weldon, effective with the April 2012 annual shareholders’ meeting. Weldon served as Chairman and CEO since 2002. Gorsky is currently vice-chairman of the company’s Executive Committee with responsibility for the Medical Devices & Diagnostics Group, Global Supply Chain, Health Care Compliance & Privacy, and Government Affairs & Policy. Weldon will remain chairman of the company’s board of directors.
Comment from Reader J. Coupal, Lexington, KY:
"'..and to our Consumer business as it leverages the success of its iconic brands and worked to resolve some recent challenges.' '..[R]esolve some recent challenges' is the understatement of the year. A wide variety of seemingly unsolvable quality problems with McNeil Consumer products reflects performance of senior management responsible for quality oversight.It will take years for the public to regain enough confidence to buy and take those iconic products."