Receive instant alerts when news is published about your stocks. Claim your one week free trial for StreetInsider Premium here.
Johnson & Johnson (NYSE: JNJ) today announced the appointment of Thibaut Mongon as Chief Executive Officer Designate and Paul Ruh as Chief Financial Officer Designate of future publicly traded company New Consumer Health.
As announced in November 2021the planned separation would create two global leaders – the new Johnson & Johnson and the New Consumer Health Company – that are better positioned to deliver better patient and consumer health outcomes through innovation, pursue more focused business strategies and accelerate the growth.
This management transition will take place following the planned separation of the Consumer Health business, which is expected to take place by 2023, subject to legal requirements, including consultation with works councils and employee representatives. , if applicable. Appointments of additional directors and officers will be determined in the coming months as the planned separation process progresses.
Alex Gorsky, Executive Chairman of Johnson & Johnson comments, “On behalf of the Board of Directors, I could not be happier to announce the appointment of Thibaut as CEO Designate. Thibaut is a visionary and respected global leader, whose consumer-centric mindset has Under his leadership, Johnson & Johnson’s Consumer Health business has advanced its innovation to reach consumers with products that truly make a difference. difference in their personal health, while simultaneously delivering healthy financial results. Having worked with Thibaut and Paul for many years, and having conducted extensive external research, I am confident in their collective ability to lead the New Consumer Health Company and its portfolio of iconic brands into the future as a stand-alone business. the Company continues to work towards the planned separation.”
Joaquin Duato, CEO of Johnson & Johnson, adds: “Over the past few years, I have seen firsthand the strength and value this team brings to consumers around the world. From sustainable innovation to digitized ways of working, Johnson & Johnson’s Consumer Health business is at the forefront of global industry and consumer trends. With Thibaut at the helm, we can expect the New Consumer Health Company to remain focused on its mission with iconic brands backed by science and a strong commitment to innovation and remarkable talent. He will be supported by Paul, who brings a strong background in transformational improvements and has deep knowledge and expertise of the consumer goods industry. I am convinced that Thibaut and Paul are the right leaders to bring significant value to stakeholders.”