Johnson & Johnson CEO Retiring in April
Johnson & Johnson's longtime CEO, Bill Weldon, is retiring this April, following an embarrassing string of product recalls that has stretched for more than 2 years, costing the health care giant hundreds of millions of dollars and consumer trust.
The maker of Band-Aids and biotech drugs says Weldon will remain chairman of the board for the time being, while ceding the chief executive post to Alex Gorsky, head of the medical device and diagnostics business.
Weldon, 63, became chief executive in 2002. He's spent his entire career at the company.
But his tenure has been tarnished since an astounding string of more than two dozen recalls of nonprescription Tylenol, Motrin,
Benadryl and other drugs began in 2009. Medical devices and consumer products also have been recalled.
(Copyright 2012 by The Associated Press. All Rights Reserved.)