• Forbes, Wednesday, February 22, 2012 10:08 AM

Healthcare and consumer products giant Johnson & Johnson made a change at the top Tuesday, announcing that longtime CEO Bill Weldon will retire in April following an embarrassing stretch of product recalls since 2009 that have cost the company in the eyes of the public and in its pocketbook.

Weldon, who will be succeeded by Alex Gorsky, the head of the company’s medical devices and diagnostics business, on April 26, is a J&J lifer who became CEO in 2002. He will remain chairman for some period of time after ceding the chief executive title.

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