Finally... the sheer volume of recalls were getting out of hand!!! Outside the recalls, Mr. Weldon did do an okay job at capital allocation by strengthening JNJ's pharma pipeline (one of the strongest in the business), steal of a deal to purchase Pfizer's consumer health care division, walking away from Guident etc etc... Let's hope Mr. Gorsky can turn this ship around OR split this company up as it seems way to large to manage.
The decentralized model at JNJ has many benefits but the drawbacks are potentially disastrous. (This is also my #1 worry at Berkshire especially when Mr. Buffett is no longer around)
Thanks,
S
New leadership at the historic company.
http://www.bloomberg.com/news/2012-02-21/j-j-names-gorsky-ceo-as-health-care-company-seeks-to-rebound-from-recalls.html
