NEW BRUNSWICK, N.J.,
March 20, 2018 /PRNewswire/ --
Johnson & Johnson (NYSE: JNJ) today announced that Dominic J. Caruso, Executive Vice President,
Chief Financial Officer, has elected to retire in September 2018 after a distinguished 19-year
career with the Company. Caruso was named CFO in 2007, and
served as CFO longer than anyone in the company's 132- year
history.
"During his nearly 12 years as CFO, Dominic provided Credo-based
leadership and financial stewardship through the economic downturn
and was instrumental in helping the Company deliver significant
gains over the past five years," said Alex
Gorsky, Chairman and Chief Executive Officer of Johnson
& Johnson. "Dominic made a big impact inside our company, and
he is well-respected throughout our industry. We wish
Dominic, his wife, Debbie, and their family the very best in the
years ahead."
Under Mr. Caruso's leadership, the Company completed three of
its largest acquisitions: Actelion, Synthes and Pfizer Consumer
Health. He was also instrumental in driving growth and
capital allocation strategies that led Johnson & Johnson to
exceed our competitor composite, as well as most major indices, for
total shareholder return in 2017 and over the last three-, five-,
ten- and twenty-year periods. Throughout his career, he has
placed an emphasis on teaching, coaching and developing future
leaders. Mr. Caruso and his finance organization have
established a best-in-class Talent Development program and have
been stewards of sustainable financial principles.
Outside of Johnson & Johnson, he serves on the CNBC CFO
Council and is Co-Chair of the U.S. Chamber of Commerce Global
Initiative on Health and the Economy. He was recently
recognized as the #1 CFO in the Pharmaceutical sector by
Institutional Investor. And he serves on the Board of
Trustees for The Children's Hospital of Philadelphia and the Cystic Fibrosis
Foundation.
Joseph Wolk, Vice President of
Johnson & Johnson Investor Relations, has been appointed
Executive Vice President, Chief Financial Officer, effective
July 1, 2018. He will report to
Mr. Gorsky and become a member of the Executive Committee.
Mr. Caruso and Mr. Wolk will work closely during the six-month
transition.
Mr. Wolk has been with Johnson & Johnson for 19 years and
has served on the Finance Leadership team, reporting directly to
Mr. Caruso since 2014. Previously, he was Vice President,
Finance and CFO of the Janssen Pharmaceutical Companies of Johnson
& Johnson and was a member of the Janssen Group Operating
Committee. Prior to this role, he held many senior roles in
Pharmaceuticals, Medical Device and Supply Chain.
"Joe is a strong, collaborative, Credo-based leader who has a
long track record of success, most recently as head of Investor
Relations. In this role, he quickly developed relationships
with the investment community and has proven business acumen as
well as a deep understanding of the many facets of Johnson &
Johnson," Mr. Gorsky said. "His varied experience has brought
innumerable benefits to the corporation and we look forward to the
valuable contributions he will make in his new role."
Mr. Wolk holds a J.D. from Temple
University School of Law and a B.S. in Finance from
St. Joseph's University, where he
currently serves on the Haub School Board of Visitors. Mr.
Wolk is also a certified public accountant.
About Johnson & Johnson
At Johnson & Johnson, we believe good health is the
foundation of vibrant lives, thriving communities and forward
progress. That's why for more than 130 years, we have aimed to keep
people well at every age and every stage of life. Today, as the
world's largest and most broadly-based health care company, we are
committed to using our reach and size for good. We strive to
improve access and affordability, create healthier communities, and
put a healthy mind, body and environment within reach of everyone,
everywhere. We are blending our heart, science and ingenuity to
profoundly change the trajectory of health for humanity.
Note to Investors Concerning Forward-Looking
Statements
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to rely on these forward-looking
statements. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or known
or unknown risks or uncertainties materialize, actual results could
vary materially from the expectations and projections of Johnson
& Johnson. A list and descriptions of risks, uncertainties and
other factors can be found in Johnson & Johnson's Annual Report
on Form 10-K for the fiscal year ended December 31, 2017, including in the sections
captioned "Cautionary Note Regarding Forward-Looking Statements"
and "Item 1A. Risk Factors," and in the Company's subsequent
Quarterly Reports on Form 10-Q and other filings with the
Securities and Exchange Commission. Copies of these filings are
available online at www.sec.gov, www.jnj.com or on request from
Johnson & Johnson. Any forward-looking statement made in this
release speaks only as of the date of this release. Johnson &
Johnson does not undertake to update any forward-looking statement
as a result of new information or future events or
developments.
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SOURCE Johnson & Johnson