J&J Board Picks CEO To Replace Retiring Chairman

NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson says Bill Weldon will step down as chairman at the end of next month, and its board of directors picked new CEO Alex Gorsky to replace him.

The world's biggest maker of health products had named Gorsky as CEO earlier this year, replacing Weldon.

The New Brunswick, N.J., company says Weldon will retire in the first quarter of 2013. Gorsky takes over the added responsibilities as chairman on Dec. 28.

Weldon stepped down as CEO in April after a decade in that role. Gorsky had been responsible for J&J's medical devices business since 2009 before becoming CEO.

The maker of baby shampoo, artificial joints and drugs has been plagued by dozens of product recalls in recent years, including prescription and nonprescription medicines, contact lenses and defective hip implants.