Collusion <=> symbiosis. Essentially, if one "organism" is removed, the other cannot survive, so either Weldon's termination or a majority of board members being voted out/resigning would result in considerable, positive, employee, shareholder and stock price relief.
Weldon recommended these people for initial election to the board, and will continue to recommend same for re-election to the BoD; the BoD determine/grant Weldon his "performance bonuses," stock options, and cash compensation; they are in each other's corners. But, for how long, once the institutional holders come a' calling, and wanting a return on their sizable investment: the institutions hold all the cards, as they hold the majority of the votes.
JNJ needs outside directors, frankly, with skin in the game. Disinterested country club management is what this company suffers from. Time to clean house.
This is exactly what is wrong with America. The greed of the pigs at the top just keeps getting bigger and bigger. $28,000,000 for abysmal performance that should get him fired while the hard working Cordis coronary division with reps and managers making between $175k-$300k all get fired?????? Really unbelievable!! Similar to the banking industry- Greedy idiots at top almost put the world into another great depression yet they keep their million/billion dollar bonuses and jobs while low level employees lose their jobs, and the country as a whole suffers. It has got to stop!!! How do these people live with themselves? Madness
I can understand executive compensation in terms of base salary, but a "performance bonus" of $ 1.9 million+ ? What the devil for ?! The man presided over nearly twenty recalls with a resulting loss of nearly one billion dollars in sales. Such shoddy QC and loss in sales "performance" would get most managers terminated. JNJ apparently has set a very low bar for itself, with WW.
Beyond the economic loss JNJ is starting to lose consumer confidence and customers are already looking to replace their brand names with generics. Why not, clearly JNJ's manufacturing is a mess. TRUST is what keeps customers, especially with medication. Very serious. I wouldn't trust them beyond a bandaid, and their's are overpriced as it is.
Sorry, not worth this price, chart also now broken. Lower lows coming. Fire Weldon and I would be in the stock in a minute.