Duato is taking over the role in January as previously planned. Those segments are expected to generate roughly $77 billion in revenue while the consumer products division is forecast to sell about $15 billion in products this year, the company said.
Its yet-to-be-named consumer products company will also inherit litigation stemming from lawsuits over claims that its Johnson's Baby Powder causes cancer, allegations the company has vehemently denied. Gorsky said the consumer division has four brands alone that generate more than $1 billion in annual sales. By separating it, the company can provide "even more agility" and "a better opportunity for capital allocation," he said.J&J was already undergoing a major transition with Gorsky's departure as CEO. He will remain on as executive chairman of the new J&J, the company said.
Additionally, the company said it planned to keep its total dividend "at least at the same level" following the change. J&J currently sports a dividend yield of about 2.6%.said it plans to split into three separate publicly traded companies, spinning out its medical and energy units from its aviation unit.
J&J will become J1 and J2
So, just Johnson... and Johnson?
Bold indeed. let the smaller company go bankrupt from the Talc lawsuit in order for the bigger to survive.
Most welcome, precious people! ✨
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Source: Forbes - 🏆 394. / 53 Read more »