Johnson and Johnson names next CEO

Johnson and Johnson has announced that Alex Gorsky will be appointed as the company's next chief executive officer (CEO) on April 26th 2012.

Mr Gorsky is the current vice-chairman of the company's executive committee responsible for its medical devices and diagnostics group, as well as its global supply chain, healthcare compliance and privacy, and government affairs and policy.

He joined Johnson and Johnson in 1988 and has served in a variety of leadership roles across its various operations, as well as leading Novartis' US pharmaceuticals business for four years during a spell away from his current employer.

Mr Gorsky will take over the CEO role from Bill Weldon, who will also relinquish his post as chairman of the executive committee, though he will remain chairman of the board of directors.

Jim Cullen, independent presiding director of the board, said: "It is a testament to the leadership development and succession planning process at Johnson and Johnson that Mr Gorsky, like all of the previous chief executives in the company's 126-year history, was appointed from within the organisation."

Last month, the company announced its financial results for 2011, during which it experienced year-on-year growth of 5.6 percent.