Johnson & Johnson CFO announces retirement

Johnson & Johnson (J&J) has announced that its chief financial officer (CFO) Dominic Caruso is to retire in September.

Vice president of investor relations Joseph Wolk, who has been part of the finance leadership team since 2004, has been appointed to take over the position.

Mr Caruso has been with J&J for 19 years and held the role of CFO since 2007, making him the longest incumbent of the job in the company's history.

Alex Gorsky, chief executive officer of J&J, commented: "During his nearly 12 years as CFO, Dominic provided credo-based leadership and financial stewardship through the economic downturn and was instrumental in helping the company deliver significant gains over the past five years."

Mr Gorsky added that Mr Volk's "varied experience" has brought a large number of benefits to the corporation.

As a result, he is looking forward to seeing the "valuable contributions" he will make in his new role.

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