Share |

New Chief Executive Takes Helm at Johnson & Johnson During Turbulent Time

Executive Alex Gorsky Takes Reigns of Planet's Top Pharmaceutical Company as New CEO
Alex Gorsky
Alex Gorsky took the reigns of Johnson & Johnson at an April 26 shareholders meeting in New Brunswick. Wharton School of Business

NEW BRUNSWICK, NJ—The new chief executive of Johnson & Johnson, Alex Gorsky, announced at the company's shareholders meeting on April 26 that he would make their customers the first priority, according to a report on MyCentralJersey.com.

In a separate article, MyCentralJersey.com reported that seven different organizations protested the annual shareholders meeting, held at the at the Hyatt Regency Hotel on Albany Street.

Gorsky is taking over for former CEO William Weldon, who ran the company as it came under fire for various lawsuits over the drug Risperdal. Lawsuits challenging the way the drug was marketed were filed by several states and the federal government. Currently, the State of Arkansas won a $1.1B judment from the company last month.

And NewBrunswickToday.com reported that the company is looking at a $1.8B bill to settle the federal government's claims against Risperdal.

Handling the lawsuits will be one of the many challenges Gorsky has to face during tenure as CEO of the world's largest pharmaceutical corporation.