Summary Box: J&J taps 1 of vice chairs as new CEO

Summary Box: Johnson & Johnson's Weldon steps down as CEO in April, after repeated recalls

Associated Press

CHANGING GUARD: Johnson & Johnson's Bill Weldon, CEO for a decade, is handing that post in April to Alex Gorsky, head of medical devices and diagnostics and one of two vice chairmen considered in the running.

RECALL RAMIFICATIONS: The company calls the switch normal succession planning, but it comes after roughly 30 product recalls over more than two years.

REST OF LEGACY: Weldon doubled sales with many acquisitions, but results have been down the past couple years, recalls and factory upgrades have cost well over $1 billion, and government probes have tarnished J&J's reputation.

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