Johnson & Johnson is making headway toward its consumer health separation, and on Wednesday the company revealed the group's planned leadership.
Thibaut Mongon will lead the new consumer health company as chief executive officer, while Paul Ruh set to serve as chief financial officer, J&J said.
Mongon is a 20-year veteran of J&J and has been worldwide consumer chairman since 2019. Ruh has served for five years as the CFO of consumer health group. Previously, he worked for 17 years at PepsiCo.
J&J's consumer group will name additional leaders in the coming months. The conglomerate plans to complete its consumer separation next year.
In a statement, J&J CEO Joaquin Duato said the execs will lead the new company to “remain mission-driven with iconic, science-backed brands and a strong commitment to innovation.”
J&J's consumer group markets brands such as Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s and Band-Aid.
The split is intended to increase the consumer group's focus and flexibility to meet customer needs. J&J first unveiled the split in November.
J&J plans to finalize the organizational design for its consumer group by the end of the year. It plans to reveal a new name and headquarters location around the middle of the year.
The company’s consumer health unit brought in $14.6 billion in 2021, while the pharmaceutical side collected $52.1 billion.