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A-Brands

J&J Appoints Thibaut Mongon As CEO Of Spun-Off Business

Johnson & Johnson has appointed Thibaut Mongon as the chief executive officer of the consumer health division, which the pharmaceutical giant plans to spin off into a listed company by the end of next year.

The world's largest health products company in November announced it would spin off its consumer health division that sells Listerine and Baby Powder to focus on pharmaceuticals and medical devices in the biggest shake-up in its 135-year history.

Mongon currently serves as the executive vice president and worldwide chairman of the company's consumer health division after joining the company in 2000.

J&J also appointed the chief financial officer of the consumer health business Paul Ruh as the CFO of the upcoming entity.

'The Right Leaders'

Joaquin Duato, chief executive officer of Johnson & Johnson commented, "With Thibaut at the helm, we can expect the New Consumer Health Company to remain mission driven with iconic, science-backed brands and a strong commitment to innovation and remarkable talent.

"He will be supported by Paul, who brings a strong track record of delivering transformational improvements and who has in-depth knowledge and expertise of the consumer goods industry. I am confident that Thibaut and Paul are the right leaders to deliver significant value for stakeholders.”

The leadership transition would occur after the separation completes, which is expected to happen within 2023, subject to legal requirements, the company said.

Directors and additional executive leadership appointments will be determined in the coming months as the planned separation process progresses, Johnson & Johnson added.

News by Reuters, additional reporting by ESM – your source for the latest A-Brands news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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