Welcome to our new website! If this is the first time you are logging in on the new site, you will need to reset your password. Please contact us at raps@raps.org if you need assistance.
Your membership opens the door to free learning resources on demand. Check out the Member Knowledge Center for free webcasts, publications and online courses.
This comprehensive resource covers product change evaluation, postmarket surveillance, audit/inspection compliance, and various other laws and regulations pertaining to maintaining a product on the market.
Hear from leaders around the globe as they share insights about their experiences and lessons learned throughout their certification journey.
| 15 March 2012 | By Alexander Gaffney, RAC
Outgoing Johnson & Johnson (J&J) Chief Executive Officer William Weldon will receive $143 million in retirement pay, according to a regulatory filing released by J&J.
The company-and Weldon's reputation-were plagued last year by a large number of quality setbacks that caused the US Food and Drug Administration (FDA) to take notice, including a consent decree between FDA and a Pennsylvania manufacturing plant owned by J&J subsidiary McNeil PPC.
Weldon, who has been CEO for ten years and has worked at J&J since 1971, will receive the compensation primarily as the result of deferred and long-term compensation, as well as pension benefits.
While Weldon won't see these benefits immediately-he assumed the position of Chair of the J&J Board of Directors in April-they still come "at a time when J&J is still fighting the fallout from a series of consumer-drug and device recalls," writes Fierce Pharma.
Read more:
Bloomberg - J&J CEO Weldon to Get $143.5M in Retirement
FiercePharma - J&J's Weldon due for $143M retirement package
Tags: Retiring, CEO, Weldon, McNeil, J&J, Latest News