Another restructuring is underway at Johnson & Johnson. The company is collapsing one of its four units--the "comprehensive-care" business, which marketed diabetes, vision and heart-related products--and parceling out the pieces to the three remaining. No word yet on what's ahead for the management and staff in those pieces of the business.
Donald Casey, who's been worldwide chairman of comprehensive care, will be overseeing the breakup and transfer. "Announcements about Don's future role, and other personnel and organizational announcements, will be made on an ongoing basis as this transition planning progresses over the next several weeks," J&J spokesman Bill Price told Dow Jones. Price credited the "challenging business and economic environment" for the management consolidation.
As you know, this makes two management shuffles for J&J over the past two years. The company reorganized its business in late 2007, and that's when the comprehensive care unit was created. It's not the first element of the 2007 overhaul to die, however; J&J folded its office of strategy and growth earlier this year.
- see the Dow Jones piece
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