Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

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 | 05:51pm 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
07/29 JOHNSON & JOHNSON : Federal Judge Scared Of Change, Dismisses Transgender Studen..
07/28 JOHNSON & JOHNSON : Engaging the Workforce in Innovation Initiatives: An Intervi..
07/28DJMerck Earnings Hurt by Arthritis Drug Knockoffs
07/27 JOHNSON & JOHNSON : Elite Eve bolsters J and J's excellent business partnerships
07/27 JOHNSON & JOHNSON : Rosalynn Carter Institute expands Operation Family Caregiver..
07/25 JOHNSON & JOHNSON : Declares Quarterly Dividend for 3rd Quarter 2015
07/23 JOHNSON & JOHNSON : Janssen Submits Supplemental New Drug Application to U.S. FD..
07/23 JOHNSON & JOHNSON : Announces Quarterly Dividend for Third Quarter 2015
07/23 JOHNSON & JOHNSON : Researchers at Johnson & Johnson Discuss Findings in Erythro..
07/23 JOHNSON & JOHNSON : Reports 2015 Second-Quarter Results:
Advertisement
Chart
Duration : Period :
Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | 4-Traders
Income Statement Evolution
More Financials