Johnson & Johnson Names Larry Merlo Chair Designate Of Planned New Consumer Health Company

(RTTNews) - Healthcare major Johnson & Johnson (JNJ) announced Wednesday the appointment of Larry Merlo as Non-executive Chair Designate for its planned new consumer health company's Board of Directors.

Johnson & Johnson in November 2021 announced the planned separation to create new Johnson & Johnson and the New Consumer Health company.

In May, the company had announced the appointment of Thibaut Mongon as Chief Executive Officer Designate of the new company.

The company said additional directors will be determined and announced in the coming months as the planned separation process progresses. The separation is expected to occur in 2023 subject to legal requirements including consultation with works councils and employee representatives.

Merlo will formally assume the role as Non-executive Chair upon completion of the planned separation.

Merlo, with over 30 years of experience, previously served as President and CEO of CVS Health from 2011 to 2021.