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Johnson & Johnson Hires Former Bayer Exec To Combat Mounting Porblems

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Johnson & Johnson Hires Former Bayer Exec To Combat Mounting Porblems

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.

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.

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Sheeraz Raza

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