(This story has been posted on The Wall Street Journal Online's
Health Blog at http://blogs.wsj.com/health.)
By Jonathan D. Rockoff
It didn't take long for Sheri McCoy, the runner-up in Johnson
& Johnson's search for a new CEO, to find a new landing spot.
As the WSJ reports, she's taking the helm at Avon Products.
Her new role won't be easy. Struggling Avon has faced poor
sales, an SEC investigation and a bribery probe that started in
China, and the company is now the target of a take-over attempt by
a smaller rival Coty.
At J&J, McCoy was credited with reviving its landmark
pharmaceuticals business, which after the expiration of key
products has started to launch new drugs, such as Zytiga for
prostate cancer.
McCoy, 53, had worked at J&J since 1982, working her way up
from a scientist to one of two vice chairman who had competed to
succeed William Weldon as CEO. And she had become the
highest-ranking, most visible woman in the pharmaceutical
industry.
Alex Gorsky was recently named as the winner of the J&J CEO
horse-race. He becomes CEO later this month.
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