Johnson & Johnson (the “Company”) announced the appointment of Thibaut Mongon as Chief Executive Officer Designate and Paul Ruh as Chief Financial Officer Designate of the future, listed New Consumer Health Company.
As announced in November 2021, the planned separation would create two global leaders — the new Johnson & Johnson and the New Consumer Health Company — that are better positioned to deliver improved health outcomes for patients and consumers through innovation, pursue more targeted business strategies and accelerate growth.
This leadership transition will occur upon completion of the planned separation of the Consumer Health business, expected to occur within 2023, subject to legal requirements including consultation with works councils and employee representatives, as required. Directors and additional executive leadership appointments will be determined in the coming months as the planned separation process progresses.
Alex Gorsky, Executive Chairman of Johnson & Johnson comments, “On behalf of the Board, I couldn’t be more pleased to announce the appointment of Thibaut as CEO Designate. Thibaut is a visionary and respected global leader, whose consumer-centric mindset has repeatedly propelled the business forward. Under his leadership, the Consumer Health business of Johnson & Johnson has advanced its innovation to reach consumers with products that truly make a difference in their personal health, while simultaneously delivering healthy financial results. Having worked with both Thibaut and Paul for many years, and, after conducting a thorough external search, I am confident in their collective ability to lead the New Consumer Health Company and its portfolio of iconic brands into the future as a standalone company. I look forward to our continued partnership as the Company continues to work towards the planned separation.”
Joaquin Duato, Chief Executive Officer of Johnson & Johnson adds, “In recent years, I’ve seen firsthand the strength and value this team brings to consumers around the world. Whether it is sustainable innovation or digitized ways of working, the Consumer Health business of Johnson & Johnson is on the leading edge of global industry and consumer trends. With Thibaut at the helm, we can expect the New Consumer Health Company to remain mission driven with iconic, science-backed brands and a strong commitment to innovation and remarkable talent. He will be supported by Paul, who brings a strong track record of delivering transformational improvements and who has in-depth knowledge and expertise of the consumer goods industry. I am confident that Thibaut and Paul are the right leaders to deliver significant value for stakeholders.”