U.S. Markets closed

Summary Box: J&J reassures shareholders on recalls

The Associated Press

CHANGE OF GUARD: After a decade as Johnson & Johnson CEO , Bill Weldon stepped down at its annual meeting. Alex Gorsky took over.

CREDO CONCERNS: Several shareholders grilled Gorsky on whether J&J will stick to its credo of putting patients, doctors and employees ahead of profits after product recalls and ethical lapses. He said that's a priority.

SHAREHOLDER VOTES: Three shareholder proposals were voted down, including ones to require an independent board chairman, get shareholder approval of political donations and stop using animals for training doctors on J&J surgical equipment.