Johnson & Johnson Hires Former Bayer Exec To Combat Mounting Porblems

Johnson & Johnson Hires Former Bayer Exec To Combat Mounting Porblems
By Kityvankova (Own work) [Public domain], via Wikimedia Commons

Johnson & Johnson Hires Former Bayer Exec To Combat Mounting Porblems

Play Quizzes 4

In its attempts to save its troubled consumer health and manufacturing operations, renowned health care big wig Johnson & Johnson (NYSE:JNJ) is making new hires. Johnson & Johnson will hire a Bayer AG (ADR) (PINK:BAYRY)’s Executive to particularly look over the consumer health and manufacturing operations.

Sandra E. Peterson is the Bayer AG (ADR) (PINK:BAYRY)’s Executive who will be given the task of overseeing the operations. The former CEO of Bayer crop science will be the first outsider to join the inner circle of executives who manage all of Johnson & Johnson’s diversified operations. This addition to the executive committee is coupled with the appointment of Worldwide Pharmaceutical’s Paul Stoffels, as chief scientific officer. All these changes will bring the total number of Executive Committee members to six.

London Value Investor Conference: Joel Greenblatt On Value Investing In 2022

The first London Value Investor Conference was held in April 2012 and it has since grown to become the largest gathering of Value Investors in Europe, bringing together some of the best investors every year. At this year’s conference, held on May 19th, Simon Brewer, the former CIO of Morgan Stanley and Senior Adviser to Read More

Peterson’s addition to the committee is complimented by her appointment as a group worldwide chairperson. In addition to Peterson’s primary responsibility of supervising the company’s supply chain and the embattled consumer health business, she has also been placed with the responsibility of providing oversight to Information Technology. As such, the managers of all these divisions will report to her.

When asked for a comment, Carol Goodrich, the company spokeswoman noted that 52 year old Peterson was the right person for the job, highlighting her prowess in multiple fields. Goodrich was keen to note that Peterson’s management skills spanned over consumer goods, medical devices, pharmaceuticals and even Information technology.“She can leverage her IT and supply chain background to address the critical current needs in our consumer business,” noted a rather enthusiastic Goodrich.

Goodrich’s positive comments on Peterson were backed by CEO Alex Gorsky, who also shared positive insights on the former Bayer CEO. “Sandy Peterson is an experienced global leader, known for her strategic thinking and proven track record in growing businesses,” he said.

Indeed, Peterson has a reputable track record. The New York native has had the opportunity to serve in senior positions in leading companies such as Merck & Co. and Medco Health

Goodrich also remarked that the changes were motivated towards enhancing the execution of Johnson & Johnson’s (NYSE:JNJ) strategy as well as magnifying the company’s concentration on science.

First notable executive move

This dauntless move is the first notable executive move undertaken by CEO Alex Gorsky, who stepped into office back in April. The CEO has on several occasions noted that he will restore the company’s reversed fortunes.

Johnson & Johnson (NYSE:JNJ) has been battling with countless problems over the past several months, most of them revolving around ethical, quality and legal contentions with consumers.

Updated on

Sheeraz is our COO (Chief - Operations), his primary duty is curating and editing of ValueWalk. He is main reason behind the rapid growth of the business. Sheeraz previously ran a taxation firm. He is an expert in technology, he has over 5.5 years of design, development and roll-out experience for SEO and SEM. - Email: sraza(at)
Previous article Chesapeake Energy’s Attempt To Overturn Peak Energy’s Award Rejected
Next article Apple Inc. (AAPL) Gets A Price Target Boost From Sterne Agee

No posts to display