Jan. 31 (Bloomberg) -- Johnson & Johnson, the world’s second biggest health-care company, announced its second round of leadership changes in less than a year in a unit that’s recalled dozens of brands of consumer medicines.
Patrick Mutchler, named in April as company group chairman for over-the-counter products, will retire, to be replaced by Roberto Marques, the New Brunswick, New Jersey-based drugmaker said in an e-mail today. Pericles Stamatiades, chief strategist for the consumer business, is also leaving after 28 years at J&J, and his duties will be reassigned, the company said.
The Mutchler and Stamatiades appointments followed two years in which J&J recalled hundreds of millions of packets of Tylenol, Motrin, Benadryl and other products due to foul odors, adulterated ingredients and bad labeling. While the company resumed some sales last year, a shuttered plant in Pennsylvania isn’t expected to reopen until next year, Chief Executive Officer William C. Weldon said on a Jan. 24 call.
The over-the-counter business “will continue to be operated as a separate, integrated business in order to maintain its focus on quality and compliance, and on the successful reintroduction of OTC medicines in the U.S. market,” Bonnie Jacobs, a spokeswoman for J&J’s McNeil consumer unit, said in an e-mail. Denice Torres will continue to run day-to-day operations for the U.S. business, she said.
Jacobs declined to comment on why the management changes were being made. Johnson & Johnson had $4.4 billion in over-the- counter sales last year, a drop of more than 25 percent since 2008, the year before the bulk of the recalls began.
The management changes were first reported yesterday by The Wall Street Journal.
J&J fell less than one percent to $65.71 in New York trading yesterday. The shares have gained 9.9 percent in the 12 months before today. Pfizer Inc., based in New York, is the biggest seller of medical products.
--Editors: Reg Gale, Angela Zimm
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