Johnson & Johnson’s Chief Financial Officer is set to step down
Spanning a near 20-year career at Johnson and Johnson, Chief Financial Officer Dominic J. Caruso is set to retire in September this year, after serving as Chief Financial Officer since 2007.
The longest running CFO in the company’s history, Caruso has been the figurehead behind the company’s acquisitions of Actelion, Synthes and Pfizer Consumer Health, amongst others.
He has also been instrumental in driving growth and capital allocation strategies that has seen Johnson & Johnson to exceed its competitor composite, as well as most major indices.
Additionally, with a passion for developing talent, Caruso and the finance organisation have established a best-in-class Talent Development program and have been stewards of sustainable financial principles since its establishment.
"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," commented Alex Gorsky, Chairman and Chief Executive Officer of Johnson & Johnson.
"Dominic made a big impact inside our company, and he is well-respected throughout our industry."
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Outside of Johnson & Johnson, Caruso serves on the CNBC CFO Council and is Co-Chair of the US Chamber of Commerce Global Initiative on Health and the Economy. He was recently recognised as the #1 CFO in the pharmaceutical sector by Institutional Investor and serves on the Board of Trustees for The Children's Hospital of Philadelphia and the Cystic Fibrosis Foundation.
Vice President of Johnson & Johnson Investor Relations, Joseph Wolk is set to assume the role from July 2018. Whilst reporting to Chief Executive Officer Alex Gorsky, Caruso will work with him across a six-month transition period.
Wolk has been with Johnson & Johnson for 19 years and has served on the Finance Leadership team and has reported directly to Caruso since 2014. Previously, he has led teams across a number of divisions at Janssen Group and Johnson & Johnson.
"Joe is a strong, collaborative, Credo-based leader who has a long track record of success, most recently as head of Investor Relations. In this role, he quickly developed relationships with the investment community and has proven business acumen as well as a deep understanding of the many facets of Johnson & Johnson," Gorsky said.
"His varied experience has brought innumerable benefits to the corporation and we look forward to the valuable contributions he will make in his new role."
On the rise: Jack Nathan Health
Canadian healthcare company Jack Nathan Medical Corp has announced a major expansion in Mexico, with the opening of 153 new medical clinics in Walmart stores under the brand name Jack Nathan Health.
The company say these will be located in areas that would benefit from increased medical services, which will include telemedicine options and family health.
This is the company's largest expansion since it was founded in 2006, and will give Jack Nathan Health a significant presence as a healthcare provider in Mexico, bringing the company's total clinics to the Central American country to 203.
Leading healthcare in Canada
Jack Nathan Medical Corp is one of Canada’s largest healthcare networks, providing primary, dental and urgent care. Thanks to its partnership with Walmart Canada, it operates clinics in 76 Walmart stores across the country.
A key part of the company's strategy is the use of technology to drive patient and practitioner engagement. Its online platform offers e-prescribing, patient scheduling and a virtual consultation service, which was developed quickly to enable access to healthcare professionals during the pandemic, as well as COVID-19 screening.
In November 2020 the company appointed digital health expert Serge Cinelli as its new Chief Technology Officer, to help roll out Jack Nathan's proprietary technology. Following this, in January this year it acquired Writi, a software firm.
Revolutionising healthcare with technology
Writi's Virtual Healthcare solution is a cloud-based medication-management platform aimed at elderly care providers, and is available on mobile devices and web platforms. It is used by TELUS Health among others, the health division of one of Canada's largest telecommunications companies.
The acquisition of Writi formed part of Jack Nathan Health's technology roadmap, which includes bringing hospital-quality care to the home.
As well as trading on the Toronto Venture Stock Exchange, earlier this year Jack Nathan began trading shares on the OTCQB, a leading American market for early stage and developing companies.
Commenting on the recent expansion throughout Mexico, Chairman and Chief Executive Officer George Barakat said: "Jack Nathan Health, in partnership with Walmart, is now positioning itself to become the largest physician serviced healthcare network in Mexico.
"We believe that we are going to revolutionise healthcare as we embark on this historic growth phase.”