8-KLeadership Changes

JOHNSON & JOHNSON 8-K Report, Executive Changes (Dec 8, 2004)

Filed December 8, 2004For Securities:JNJ

Summary

Johnson & Johnson (JNJ) filed an 8-K report on December 7, 2004, to announce a significant change in its Board of Directors. Henry B. Schacht, a long-serving board member and committee chairman, has informed the company that he will not seek re-election at the 2005 Annual Meeting of Shareholders due to reaching the age of 70. Mr. Schacht will continue his current roles until his term expires on April 28, 2005. This announcement is important for investors as it signals a transition in board leadership and corporate governance. Mr. Schacht's departure, though planned, marks the end of an era for a director who has contributed to the company since 1997. Investors should monitor the company's succession planning for these key board positions and the Nominating & Corporate Governance Committee.

Key Highlights

  • 1Henry B. Schacht will not seek re-election to the Johnson & Johnson Board of Directors at the 2005 Annual Meeting of Shareholders.
  • 2Mr. Schacht is not seeking re-election due to reaching the age of 70.
  • 3He will continue to serve as a Director until his current term expires on April 28, 2005.
  • 4Mr. Schacht currently serves as Chairman of the Nominating & Corporate Governance Committee.
  • 5He is also a Member of the Audit Committee.
  • 6Mr. Schacht has been a Director on the Johnson & Johnson Board since 1997.

Frequently Asked Questions

Henry B. Schacht is not seeking re-election to the board because he has reached the age of 70, which is a factor in his decision not to stand for re-election at the 2005 Annual Meeting of Shareholders.

Yes, Mr. Schacht will continue to serve as a Director, Chairman of the Nominating & Corporate Governance Committee, and a Member of the Audit Committee until his current term officially expires on April 28, 2005.

Mr. Schacht has served with distinction on the Johnson & Johnson Board of Directors since 1997.

Mr. Schacht's departure signifies a transition in board leadership, particularly from his roles as Chairman of the Nominating & Corporate Governance Committee and a member of the Audit Committee. Investors will likely be looking for updates on succession planning for these key positions and how the company plans to fill the board vacancy.