8-KLeadership Changes

JOHNSON & JOHNSON 8-K Report, Executive Changes (May 21, 2015)

Filed May 21, 2015For Securities:JNJ

Summary

Johnson & Johnson (JNJ) has announced a significant leadership transition within its finance department. Stephen J. Cosgrove, the current Controller and Chief Accounting Officer, has decided to retire in October 2015. This planned retirement marks the end of an era for a key financial executive within the company. Taking over the crucial role of Controller and Chief Accounting Officer will be Ronald A. Kapusta. Mr. Kapusta brings a wealth of experience, having been with Johnson & Johnson since 1992 and holding various senior finance positions across different segments of the company, including Consumer, Ortho-Clinical Diagnostics, DePuy Orthopaedics, and the Global Pharmaceuticals Supply Chain. His extensive tenure and diverse experience position him well to manage the company's financial reporting and controls.

Key Highlights

  • 1Stephen J. Cosgrove, Controller and Chief Accounting Officer, is retiring in October 2015.
  • 2Ronald A. Kapusta has been appointed as the successor to Mr. Cosgrove.
  • 3Mr. Kapusta has a long-standing career with Johnson & Johnson, starting in 1992.
  • 4Mr. Kapusta has held various finance leadership roles across multiple JNJ segments, including Consumer, Ortho-Clinical Diagnostics, DePuy Orthopaedics, and Supply Chain.
  • 5The transition is planned and effective upon Mr. Cosgrove's retirement, ensuring continuity.
  • 6Mr. Kapusta holds CMA and CFM designations and possesses strong academic credentials in finance and operations management.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the retirement of Johnson & Johnson's Controller and Chief Accounting Officer, Stephen J. Cosgrove, and the appointment of Ronald A. Kapusta as his successor.

The leadership change will take effect in October 2015, upon Mr. Cosgrove's retirement.

Ronald A. Kapusta has an extensive history with Johnson & Johnson, joining in 1992. He has held numerous finance leadership positions across various segments, including the Consumer segment (McNeil Consumer Products Company, Worldwide Nutritionals), Ortho-Clinical Diagnostics, DePuy Orthopaedics, and the Global Pharmaceuticals Supply Chain, most recently serving as Vice President, Finance of the Johnson & Johnson Supply Chain.

The filing indicates a planned and orderly transition with Mr. Kapusta, who has a long and varied financial leadership history within JNJ, stepping into the role. This suggests continuity and minimizes concerns about immediate disruptions to financial reporting or internal controls.