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NEW BRUNSWICK, N.J. - Johnson & Johnson today announced that its board of directors has named William C. Weldon chairman and CEO, and James T. Lenehan president in addition to his responsibilities as vice chairman, effective April 25, 2002. Together, they will form the office of the chairman.
They succeed chairman and CEO Ralph S. Larsen, 63, and Robert N. Wilson, 61, senior vice chairman of the board and vice chairman of the executive committee.
Weldon and Lenehan, both 53, currently serve as vice chairmen of the board. Weldon leads the pharmaceuticals group as well as the consumer pharmaceuticals & nutritionals group. Lenehan has responsibility for the medical devices & diagnostics group and the
consumer & personal care group.
"This management succession reflects a long-standing practice at Johnson & Johnson of developing outstanding leaders from within our broadly-based, global health care business," said Larsen. He pointed out that Weldon and Lenehan have a combined total of 56 years of service with Johnson & Johnson. "Bill and Jim have held increasingly important positions across the entire face of our corporation and, between them, have had operational responsibility for the total business for the past year."
Weldon will become only the sixth chairman in the 116-year history of Johnson & Johnson.