Alex Gorsky will serve as Executive Chairman of Johnson & Johnson and transition the CEO role to Mr. Joaquin Duato, currently Vice Chairman of the Company’s Executive Committee, effective January 3, 2022.
Mr. Duato would continue to lead the new Johnson & Johnson following the completion of the planned separation.
The New Consumer Health Company’s Board and leadership would be finalized in due course.
The New Consumer Health Company includes four $1 billion megabrands and 20 brands over $150 million with established positions in Self Care (OTC), Skin Health, and Essential Health.
The Consumer Health segment is expected to generate revenue of approximately $15 billion in FY21 following the planned separation.
The Company is targeting completion of the planned separation in 18 to 24 months.
In addition, it is expected that the overall shareholder dividend will remain at least at the same level following the completion of the transaction.
JNJ shares are up 2.73% at $167.51 during the premarket session on the last check Friday.
Originally Posted on November 12, 2021 – Johnson & Johnson To Spin Off Consumer Health Business: What You Need To Know
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