Under new CEO Joaquin Duato, J&J promises 'small, medium and large scale' buyouts as spinoff nears
When then-incoming CEO Joaquin Duato laid out his transformation plans for Johnson & Johnson back in January, he promised a 5 to 6% growth in sales this year. Apparently, the transition has proved to be a bit more challenging than expected.
J&J has lowered its full-year sales forecast to between $94.8 billion and $95.8 billion, down about $1 billion from what Duato predicted back in January, according to the company’s Q1 results. A great deal of that is due to foreign exchange impacts, CFO Joseph Wolk said on the call.
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