"It has been a profound honor and privilege to have served as your CEO these past 10 years," Weldon told the audience of shareholders. "The time has come to pass the mantle to someone who I have known and worked with for over 20 years.
"I am confident that
Gorsky, stepping to the podium in his new role, recognized Weldon for his contributions to the company and patients over his 40-year career with
Gorsky highlighted a decade of accomplishments under
Speaking about his own appointment, Gorsky said: "What an honor, a privilege and, indeed, a humbling moment this is for me.
"I commit to bringing all my heart and soul to my role as CEO," Gorsky added, "to keep us all proud of what
Alex Gorsky Outlines His Vision for the Company
On his vision for the future of the company, Gorsky stressed, "Our Credo will remain at the core of what drives our actions. It reflects our values, our beliefs, and our aspirations. It defines our core responsibilities to our stakeholders. It enables us to make a real, lasting and profound difference in the world."
Gorsky outlined the central themes of how
Gorsky predicted that global health care will continue to evolve rapidly and dramatically. "One thing does seem quite clear about the future," he said, "How people around the world achieve good health, in a sustainable manner, is likely to be the most significant challenge for our generation.
"But, today, to meet the new challenges and stay ahead of the transformation in health care," he added, "We're going to have to adapt faster than ever before, be more agile than ever before. It will take new thinking, more cost-efficient ways of delivering health care and an expanded global presence and mindset. We will need to work smarter and harder — wherever we are delivering new therapies."
Gorsky also stressed the need to maintain a global mindset. "We must think about everything we do in global terms, if we expect to touch more patients, expand access to health care and grow our businesses."
For example, he said, "Our fastest growing markets are the emerging markets. Markets where incomes, while lower, are growing rapidly. Markets where unmet health care needs abound. We're doing well in many emerging markets today, while in other markets, there is still much work to do. Global opportunities can lead us to new products, new markets, new technologies and new business models.
"Going forward," he added, "We intend to build upon the strongest elements of
The new CEO introduced several videos of patients and customers who have been impacted by
In addition, Weldon reported that the Board of Directors voted to increase the quarterly dividend for the 50th consecutive year from
Additional coverage of the meeting will be available through the company's social media outlets: including our blogs JNJBTW (www.jnjbtw.com),
Caring for the world, one person at a time...inspires and unites the people of
*Net earnings and diluted earnings per share excluding special items are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the Investor Relations section of the Company's website at www.investor.jnj.com.
NOTE TO INVESTORS
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; significant adverse litigation; impact of business combinations;
financial distress and bankruptcies experienced by significant customers and suppliers; changes to governmental laws and regulations and domestic and foreign health care reforms; trends toward health care cost containment; increased scrutiny of the health care industry by government agencies; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and sovereign risk; disruptions due to natural disasters; manufacturing difficulties or delays; and product efficacy or safety concerns resulting in product recalls or regulatory action. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of
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