Johnson & Johnson announced this week that Sheri S. McCoy, vice-chairman of the Executive Committee, has resigned from the company. She was considered to be in line for the CEO position, being filled by Alex Gorsky.
McCoy, who joined J&J in 1982, is reportedly moving on to head Avon, a smaller company in comparison to J&J but with similar healthcare products in the cosmetic and skincare area.
“Sheri has made important contributions across Johnson & Johnson throughout her career. During these last several years, she was instrumental in helping to bring stronger strategic focus to our Pharmaceutical business as it builds a robust pipeline and launches important new medicines; and to our Consumer business as it leverages the success of its iconic brands and worked to resolve some recent challenges,” said J&J CEO and Chairman William C. Weldon, in a company statement.
J&J announced earlier this year that Gorsky would be succeeding Weldon, effective with the April 2012 annual shareholders’ meeting. Weldon served as Chairman and CEO since 2002. Gorsky is currently vice-chairman of the company’s Executive Committee with responsibility for the Medical Devices & Diagnostics Group, Global Supply Chain, Health Care Compliance & Privacy, and Government Affairs & Policy. Weldon will remain chairman of the company’s board of directors.