Update: J&J CEO William Weldon told shareholders today he hopes they keep their faith in the company despite the dozens of recalls on popular names in medicine.
“Any level of recall is [un]acceptable,” the Star-Ledger reports him saying at the meeting in New Brunswick, where he talked about new manufacturing policies at many of the company’s plants, including Fort Washington’s McNeil facility.
Original report: Sounds like it’s going to be a long day for William Weldon. The Johnson & Johnson CEO will address shareholders today for the first time since the company’s rash of recalls.
Weldon spoke with some members of the press yesterday before today’s meeting in New Brunswick, N.J., saying he’ll talk about his own accountability in J&J’s dozens of recalls.
“I am accepting accountability for what happened and I’m giving clarification about what we’re doing,’’ Weldon told the Star-Ledger. “We’re making sure we do everything we can to make sure (this) never happens again.”
The meeting also comes a day after the $21.3 billion deal between J&J medical equipment maker Synthes was announced.