Johnson & Johnson Executive Committee / Hypocrites of the Highest Order

Share why you believe our Executive Committee is by it's very nature and composition, or actions taken or planned a perfect example of hypocrisy in an Ageless Corporate Age?

 

My eyes of many moons have told me, I only see white stars and a solitary dark star. No other colors of stars that shine right here in the glorious and cold blooded J&J sky reside in the richest sky.

I asked my Father above what that means? He smiled and said, "My beloved, the Sadducees (CEO and Executive team) and Pharisees (Board and major stakeholders) made sure My Son would not take their precious, powerful, coveted job.
So, I changed the rules and so should you."

 

So what can I do, they pay me? I'm scared. I'm weak. I'm lost without JNJ. I'm their prototype, 2021.

 

Most of you are dim lit minions of the highest order here @ J&J. That is why this shit continues here and across corporate America.

Our CEO needs more than salary halted. He needs unceremoniously fired for his lack of leadership, integrity demonstrating both poor ethics and business principle. This needs to end.

To think we have to actually ask the question, "Are CEOs and corporate leadership RESPONSIBLE for with serious consequences FAILURE in corporate CONDUCT."

J&J investor calls on shareholders to reject CEO Gorsky's pay
BY JESSICA DINAPOLI, REUTERS - 9 MINUTES AGOTOP NEWS

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(Reuters) - The Office of the Illinois State Treasurer is calling on Johnson & Johnson ( JNJ )

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shareholders to reject Chief Executive Alex Gorsky's $29.6 million pay package because it shields him from the U.S. healthcare company's opioid litigation costs.

J&J is attracting investor scrutiny because it excluded from its calculation of stock awards to its top executives some $9 billion in costs related to lawsuits claiming it helped fuel the U.S. opioid crisis and that traces of asbestos in its talc baby powder caused cancer, Reuters reported last month.

Including the opioid and talc-related legal costs would have weighed on Gorsky's compensation, which totaled $29.6 million in 2020, up 17% from the previous year.

The Office of the Illinois State Treasurer, which manages a $38 billion fund that includes state and local funds and retirement plans, said in a letter to other J&J investors on Wednesday that was reviewed by Reuters that the company was protecting executives "from the financial penalty of opioid-related lawsuits" without explaining why.

"Executives should be accountable for all consequences of corporate conduct," the treasurer's office said in the letter.

J&J did not respond to a request for comment. In a filing with the U.S. Securities and Exchange Commission this month, the company said excluding litigation costs from pay is consistent with its past practices and motivates the right executive behaviors.

A nonbinding resolution on the pay packages will be up for a vote at the company's annual general meeting on April 22.

The state treasurer's office said that it is "mindful" of the important role that J&J has played in developing a vaccine to battle the COVID-19 pandemic.

A U.S. health advisory panel on Wednesday is set to review six reported cases of rare blood clots in women who received J&J's COVID-19 vaccine one day after federal regulators paused the use of the shot to assess the issue.

The state treasurer's office, which has a $10 million stake in J&J, is a member of the Investors for Opioid and Pharmaceutical Accountability (IOPA) coalition, which has 61 members with $4.2 trillion in assets under management. IOPA wrote to J&J's board in January asking it to review its pay practices in light of the opioid litigation and agreed-to settlements.

Proxy advisers Institutional Shareholder Services Inc and Glass Lewis have both recommended that investors reject Gorsky's pay plan.



(Reporting by Jessica DiNapoli in New York; editing by Jonathan Oatis)

 

Wait, wait, I'll bet he got the $30 million anyway?? Yes, Sir.