Johnson & Johnson CEO to leave post April 26

2/22/2012

TRENTON, N.J. -- Johnson & Johnson’s longtime chief executive officer, Bill Weldon, will retire April 26, the company said Tuesday.

The company, which had a string of product recalls over more than two years that cost the giant hundreds of millions of dollars and undermined consumer trust, said Mr. Weldon will remain chairman of the board for the time being.

The CEO post is to be taken by Alex Gorsky, head of the medical device and diagnostics business.

Mr. Weldon, 63, has spent his entire career at J&J and became chief executive in 2002.