Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Johnson & Johnson    JNJ   US4781601046

JOHNSON & JOHNSON (JNJ)

278
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Johnson & Johnson : J&J Chairman Weldon's Salary Cut To $1 Million After Stepping Down As CEO

05/07/2012 | 06:51pm US/Eastern
   By Peter Loftus 
   Of  
 

Johnson & Johnson (JNJ) Chairman William Weldon's annual base salary was reduced by nearly half to $1 million after he stepped down as chief executive last month, the company said Monday.

Weldon's previous annual base salary was set at $1.97 million for 2012, for his roles as both chairman and CEO, but with the expectation that J&J's board would consider the appropriate compensation for Weldon in his role as chairman only.

The decrease reflects that Weldon is no longer CEO, said spokesman Al Wasilewski.

On April 26, Alex Gorsky succeeded Weldon as CEO. Weldon is continuing as chairman and will remain an employee of the company, J&J said in a quarterly report filed with the Securities and Exchange Commission Monday.

J&J said in a previous SEC filing that in his role as chairman, Weldon will work closely with Gorsky to ensure a seamless leadership transition. During this time, all day-to-day management and operational responsibilities are being transferred to Gorsky.

Weldon will remain an employee but not a member of the J&J executive committee, which is the principal management group responsible for strategic operations and allocations of the resources of the company.

Weldon's main duties as chairman will include working with the board of directors, facilitating communication between the board and management, assisting Gorsky in business planning and strategy, representing the company before governmental and other organizations, and serving as chairman of the board's finance committee.

-By Peter Loftus, Dow Jones Newswires; +1-215-982-5581; peter.loftus@dowjones.com

React to this article
Latest news on JOHNSON & JOHNSON
11:01a GOOGLE 'C' : Johnson & Johnson to partner on surgical robot technology
06:51a google, johnson & Johnson to build robot surgeons
03/27 GOOGLE 'C' : teams up with health firm to develop AI surgical robots
03/27 JOHNSON & JOHNSON : Google, Johnson & Johnson team up to build robot surgeons
03/27 JOHNSON & JOHNSON : Google teams with JJ on robotic surgery
03/27 JOHNSON & JOHNSON : Announces Definitive Agreement To Collaborate With Google To..
03/27 JOHNSON & JOHNSON : to Webcast Annual Meeting of Shareholders
03/27 JOHNSON & JOHNSON : Google teams with J&J on robotic surgery
03/26 JOHNSON & JOHNSON : and Huntington Ingalls Industries Get Reserve Officers Assoc..
03/25 JOHNSON & JOHNSON : Announces Strategic Investment Alliance to Combat Dementia G..
Advertisement
Chart
Duration : Period :
Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF