Former Johnson & Johnson (NYSE:JNJ) vice chairwoman and erstwhile contender for the corner office Sherilyn McCoy took the helm at cosmetics maker Avon Products (NYSE:AVP).
McCoy, a chemical engineer by training, joined J&J in 1982 as an R&D scientist for its consumer women’s health business, eventually rising to chairwoman of the worldwide pharmaceuticals division after several high-level stints in the medical devices unit.
Ex-J&J CEO William Weldon bypassed McCoy in selecting vice chairman Alex Gorsky, who lead the medical device & diagnostics unit, its global supply chain, government affairs and policy and J&J’s venture-capital arm, to follow in his footsteps.
McCoy’s resignation from J&J is effective April 18, according to the New York Times.
The health care giant has had a spate of unfortunately news lately, much of it surrounding its controversial transvaginal mesh products and metal-on-metal hip implant device recall.
J&J has been batting accusations that it failed to promptly act on warnings that its ASR hip implants failed more often than expected and may have contributed to toxicity in patients’ bloodstreams, and consumer groups have called for a recall of the company’s transvaginal mesh products, as well as those by rival mesh makers.
Meanwhile, J&J has been navigating a proposed $21.3 billion buyout of Swiss orthopedic giant Synthes, ditching certain trauma business units as it looks to appease Eurozone regulators who voiced concerns that the merger would decrease competition in the medical device industry.
