As a long time shareholder I'm extremely dissappointed in Mr Weldon's performance and the board should change the current compensation program if this is the outcome for the shareholders. I'm all for pay for performance. We have had virtually no stock appreciation under both this board and the current management team for a TEN year period,truly subpar outcome / performance. Time to change all the Board of Directors positions and get this great company back on track. Buffett might be right to reduce share position till management get this company fixed.......Over 140 million in CEO compesation and a salary raise in 2011 for recalls, lawsuits and lost marketshare!!!! Board must be very weak group of individuals but have the authority to pay themselves and CEO very well. Start firing people at the top instead of doing layoffs and cost cutting initiatives to make the financial numbers for Wall Street to earn their bonuses and stock options!!
Yes......announced closure of Warsaw distribution center,printing group and another round of consolidation in Finance group. Plus the low 5% will be let go per new GE management style guidelines the HR group has set up per all the new GE executives brought with them from GE the CEO has hired.
This dividend increase is very,very disappointing and today's market price reaction is justified. With the lack of stock appreciation over the last four years mangement should have held to the historic annual dividend increase of approximately 15%. I've held JnJ stock since 1982 and have been in the Drip plan almost as long, obviously I have many,many shares.This stock performed extemely well up till 2003, since then only dividend have been above expectations and one of the reason for sticking with it. Moreover, I was hoping for a breakout year to catch up on previously lost returns. However, with the market at all time highs and JnJ struggling to see $65 I'm concerned that we JnJ shareholders have missed another market upswing opportunity and our invest will be flat going forward for the short to medium term. With so many great companies to invest in that have both appreciation and dividend returns the last 4 years from a JnJ shareholder ROI position have been disappointing. I've supported the JnJ business model and management for over 25 years.Sorry to say,I'll take my dividends in June but will begin selling shares versus accumulating. I'll contine to hold a postion in JnJ as a long term investment but at an ever smaller percentage of my portfolio. I will sell into any upcoming rallies. Too many other choices for better ROI. Best of luck to all.