Johnson & Johnson names division chairmen to executive committee as prelude to CEO succession? Tranzyme lures Lilly exec

In a couple of weeks that has seen unexpected board-level changes among drug giants such as Pfizer, Merck & Co, Sanofi-Aventis and Merck KGaA, US health care major Johnson & Johnson has joined the bandwagon, with a batch of new appointments that the firm’s chairman and chief executive, William Weldon, says “are designed to ensure that our company remains well-positioned and appropriately structured for sustainable, long-term growth in the health care industry." Industry observers see the move is a prelude to appointing a new head of the company when Mr Weldon, now aged 62, retires, which is expected in the next year or so.

J&J yesterday announced that Alex Gorsky, currently worldwide chairman, Medical Devices & Diagnostics (MD&D) and Sheri McCoy, holding the like post for Pharmaceuticals, have been appointed vice chairmen of the executive committee and join Mr Weldon, in an expanded Office of the Chairman. Both appointments are effective January 3, 2011.