Johnson and Johnson CEO Pay-Thanks Bill for The Recent Efforts to Make the Richest Man in Switzerland Richer-Big Pay For That Ef
Posted Apr 20 2011 1:25pm
In case you missed it, the latest talks are about the biggest acquisition in healthcare history with being able to purchase another big device company, so I guess when you have issues internally with your own companies, go buy another company? If you have read the news of late, that’s what you see, nothing on better handling of recalls or regaining consumer confidence. The purchase of Smith and Nephew with their 30 year knee replacement has them looking elsewhere, so they said “no thanks”.
Sure there are efforts being made and some imposed by the FDA too, so let’s not lose sight of those facts. At a time when so many of their products have been recalled with no plan of action to help consumers, all we get to hear is the news about the company getting bigger?
Sure I understand that mergers and acquisitions are on the move today, but can we walk and chew gum and not lose focus of the consumer side? We also realize the importance of having legally patented stents in our bodies if we need them and the expense required for all the legal battles so as consumers we teeter on whether or not we will be able to afford them. I just see so much spent on stent wars and not enough on rebuilding consumer products.
How about making it easier for consumers to find all your recalled products?
So again, if this acquisition were to take place, how about the Synthes legal cases that have been filed? Who would settle those? Also, can you begin treating pallets outside and give us as consumers a little relief there to cut back on the “stinky” drug recalls?
Is this the way to regain consumer confidence, buy it somewhere else? I don’t know but from what I read in the news today this substantiation for compensation looks pretty weak. I think even the employees are getting a snow job based on the latest update so employees can tell others about the big growth plans….again anything on this agenda for boosting and regaining consumer confidence? I’m happy that “the ability to focus” is mentioned though, as that’s a big one.
“A few weeks ago, I met with our senior leaders from around the world during our annual Leadership & Growth meeting. We had candid discussions about the state of our business, our strategic plan, Our Credo, and the many ways we serve our patients.
I’m pleased to report that, as an outcome of this meeting, the Executive Committee has identified several commitments that will be initiated this year to improve our ability to focus on growth. Priorities were also identified for each of our business segments, and you’ll hear more about them within your businesses.
One common commitment across our businesses is our focus on developing people. The Executive Committee is committed to building new leadership capabilities by providing top talent with greater opportunities to rotate across functions and geographies. We will advance leaders who have demonstrated excellent results, a strong growth orientation, a commitment to Our Credo, and the ability to develop others.”
I recognized and read about new drugs and other good developments too but the consumer commitments are killing the view with the lack of attention on this side and those divisions are somewhat on their own “auto pilot” courses, which I don’t think as a lot to do with the day to day actions of a CEO, but the recalls and serious issues with the FDA do!
When are you going to start making a difference in the lives of the consumers Johnson and Johnson touches every day…how about the rest of us? What is a five-year plan for corporate citizenship? Does this mean closer relationships with the banks and credit agencies and what about “modeling behaviors” for all, does this affect the CEO too? I’m just asking out of curiosity.
If the acquisition goes through is this yet one more area to be evaluated for compensation if the richest man in Switzerland gets richer? I have no problem with companies making a profit but when it seems a bit lopsided and is blasted all over the news everyday about dysfunctional areas that need to be addresses, the compensation and pats on the back just don’t seem justified. BD
Johnson & Johnson ( JNJ ) reiterated Tuesday that shareholders should approve the company's compensation plans for Chief Executive William Weldon , and it defended its ability to tie the CEO's pay to J&J's performance.
The company's comments, included in a filing Tuesday with the Securities and Exchange Commission , follows a report last week by an influential advisory firm that recommended a vote against ratifying compensation for J&J's executive officers and said shareholders should be "concerned" about Weldon's pay.