Johnson and Johnson executive announces departure

Johnson and Johnson has announced that Sheri McCoy, vice-chairman of its executive committee, will be leaving the company later this month.

Ms McCoy is resigning her post with the multinational group to take up a new role as chief executive officer (CEO) of another publicly traded company, effective as of April 18th 2012.

She has been with Johnson and Johnson since 1982, occupying key leadership roles in the company's consumer, Ethicon, medical device and diagnostics, surgical care and pharmaceuticals divisions at various points.

Johnson and Johnson's chairman and CEO William Weldon praised Ms McCoy for her work in developing the company's pharmaceuticals pipeline and addressing challenges facing the consumer business.

Later this month, the organisation will see Alex Gorsky take over the role of CEO, succeeding Mr Weldon on April 26th.

Mr Gorsky added: "Sheri and I worked closely together over the past few years. She has been a terrific colleague and partner."