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Shareholders Criticize J&J Management for Lapses

Thu, 04/25/2013 - 3:52pm
LINDA A. JOHNSON - AP Business Writer - Associated Press

Several Johnson & Johnson shareholders took the health care giant to task during its annual meeting, citing repeated product recalls, ethical lapses and excessive executive pay.

CEO Alex Gorsky took it in stride, promising improvements and saying J&J is making progress in returning a "reliable supply" of recalled consumer health products such as Tylenol and Motrin to stores. Gorsky took over a year ago.

He says the company is delivering on near-term priorities, including integrating Synthes, the giant orthopedics product maker it bought last year for $19.7 billion.

Gorsky says New Brunswick, N.J.-based J&J is making investments that will bring continued growth and is leading the pharmaceutical industry in development of innovative medicines.

He also announced an increase in its quarterly dividend, from 61 cents to 66 cents per share.

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