McNeil-PPC, Inc.

In a LinkedIn post Monday, Ashley McEvoy lauded her time at Johnson & Johnson, and particularly her final role leading the medtech team, as “the honor and privilege of my career.” After spending the better part of the last three decades at Johnson & Johnson, Ashley McEvoy, worldwide chairman of its medtech franchises, will be charting a new course. McEvoy informed J&J late last week of her plans to leave, according to an announcement published by the company Monday afternoon. She’ll stay on at J&J MedTech into the first quarter of next year to ensure that her successor’s transition into the role is a smooth one—and she hasn’t yet publicly shared the details of the “new opportunities” she’ll soon be pursuing. Filling her shoes at the top of the $27 billion medtech business will be Tim Schmid, another three-decade veteran of J&J and most recently the company group chairman of the medtech division’s Asia-Pacific business. “I want to thank Ashley for her leadership and 27 years of service at Johnson & Johnson. She has led significant transformation of our MedTech business resulting in improved performance and allowing us to better meet the needs of patients and consumers around the world,” J&J CEO Joaquin Duato said in the announcement. “Her leadership of people and commitment to their development has been a hallmark of her tenure. I wish her all the best in the next chapter of her career.” McEvoy joined J&J in 1996 and spent the first 10 years of her tenure in the consumer health division, including a stint as president of what was then known as McNeil Consumer Healthcare. She transferred to the medical devices department in 2009 to become worldwide president of the surgical technology subsidiary Ethicon before being named company group chairman of vision and diabetes care in early 2012. She took on her current role at the helm of J&J MedTech in June 2018, and, last year, she joined the ranks of J&J’s highest-paid executives, as her nearly $7.4 million 2022 payout earned her a spot on the company’s annual disclosure of its five top-paid execs. In a LinkedIn post Monday, McEvoy lauded her time at J&J, and particularly her final role leading the medtech team, as “the honor and privilege of my career.” “Stepping back, it’s impossible to overstate how important this company has been to me and how grateful I am for my career here. I can still remember when I started at J&J at age 26 as an assistant product director on Tylenol," McEvoy said. "In the time since, I’ve had the career of a lifetime, leading five companies within J&J and raising five children along the way,” she wrote. “I’ve always taken on new challenges, driven by curiosity, a deep and lifelong passion for healthcare and making it possible for people to lead better lives—and this company has allowed me to do that beyond my greatest imagination.” “I’m excited to continue to pursue that passion and for what the next chapter will bring. But for now, I want to take a moment to say thank you to my team—for your hard work, talent, and for your unwavering commitment to transforming the future of healthcare.” McEvoy’s post also shouted out Schmid: “Tim is more than just my successor, he is a trusted friend and partner,” she wrote. “When I had my fourth child, Tim ran the business while I was on leave, and when I went to run Vision, he backfilled my role as Worldwide President of Ethicon, so it’s both fitting and meaningful that I am passing the baton to him now.” Schmid joined J&J in 1993 through its sales department. He spent more than a decade in its since-divested LifeScan blood glucose monitoring business before moving to Ethicon in 2009. He was named chief strategic customer officer of the medtech division in 2016, a role he held for nearly three years before being tapped to lead the division’s Asia-Pacific operations in late 2018.

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)-- Johnson & Johnson (NYSE: JNJ) (the Company) announced today that Ashley McEvoy, Executive Vice President, Worldwide Chairman of MedTech, informed the company on October 20, 2023, that she is stepping down from her position to pursue other opportunities. Ms. McEvoy will remain with the Company into Q1 2024 to support a successful transition. Tim Schmid has been appointed Executive Vice President, Worldwide Chairman of MedTech, joining the Company’s Executive Committee. Ms. McEvoy joined Johnson & Johnson 27 years ago in the Consumer Products Group, where she oversaw classic brands including Tylenol® and Zyrtec® and grew her career to serve as President of McNeil Consumer Healthcare. Ms. McEvoy moved to MedTech in 2009 where she served as Worldwide President of Ethicon and then advanced to become Company Group Chairman of Vision and Diabetes Care prior to assuming her current role. Ms. McEvoy is presently serving as chair of the AdvaMed board of directors, the leading global trade association and consortium of companies for the medical devices industry and also serves on the Board of Trustees for the Children’s Hospital of Philadelphia (CHOP). “I want to thank Ashley for her leadership and 27 years of service at Johnson & Johnson. She has led significant transformation of our MedTech business resulting in improved performance and allowing us to better meet the needs of patients and consumers around the world,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer. “Her leadership of people and commitment to their development has been a hallmark of her tenure. I wish her all the best in the next chapter of her career.” Ms. McEvoy’s passion for people and development of leaders has enabled the Company to confidently transition the sector leadership to Mr. Schmid, a respected, skilled, and tested, Credo-based MedTech leader. With 30 years of Johnson & Johnson experience, Mr. Schmid most recently served as the Company Group Chairman of Johnson & Johnson MedTech Asia Pacific (APAC). During his tenure, the APAC region has delivered above market growth and further strengthened our leadership position across multiple businesses. Mr. Schmid has also been instrumental in elevating the role of the region as a growing center for MedTech experimentation, digital innovation, and talent. Mr. Schmid has held a variety of diverse leadership positions in sales, strategic marketing and general management across multiple businesses and geographies, including Chief Strategic Customer Officer for Johnson & Johnson MedTech, where he helped lead transformational changes to Johnson & Johnson’s business-to-business relationships with health systems in the U.S. “We are pleased to have the depth of talent at Johnson & Johnson that allows us to transition to Tim, a respected, results-driven and Credo-based leader,” said Duato. About Johnson & Johnson At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at . Cautions Concerning Forward-Looking Statements This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. A list and description of risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 1, 2023, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at , or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. View source version on businesswire.com: Contacts Investor Relations: Jessica Moore Investor-relations@its.jnj.com Source: Johnson & Johnson View this news release online at:

Johnson & Johnson (NYSE:JNJ) has for the first time disclosed its pay package for EVP Ashley McEvoy, the worldwide chair of medical device subsidiary J&J Medtech. McEvoy’s $7.4 million in total compensation could make her the highest-paid woman in medtech. She’s not the highest-paid woman at J&J, however. J&J reported nearly $8.8 million in total compensation for EVP Jennifer Taubert, worldwide chair of pharmaceuticals — and that’s actually less than Taubert made in 2020 and 2021, the first two years of COVID-19 vaccine sales. J&J Medtech is the world’s second-largest medical device company in the world according to our Medtech Big 100 ranking, trailing only Medtronic. Medtronic reported $7.1 million in total compensation to CFO Karen Parkhill for fiscal 2022. Watch for new pay figures after Medtronic closes its fiscal year at the end of April. McEvoy’s salary for the year was $984,615, according to a recent filing with the Securities & Exchange Commission. Her pay package also included $3.9 million in stock awards. $1.5 million in option awards, $890,250 in non-equity incentive plan compensation (cash bonus), and $44,308 for registrant contributions to defined contribution plans. J&J said McEvoy received perks and other personal benefits worth less than $10,000, but did not itemize them. For comparison, J&J reported nearly $13.1 million in total pay to CEO and Chair Joaquin Duato, including a $1.49 million salary, $8.2 million in stock and option awards, a $3;1 million cash bonus and $180,847 for his personal use of corporate aircraft. The SEC requires publicly traded companies like J&J to disclose pay for five named executive officers: the CEO, CFO and the three next highest-paid individuals. McEvoy’s performance in 2022 In addition to her contribution to the company’s overall performance, J&J lauded McEvoy on several fronts, including strong operational sales growth that maintained or grew market share in the majority of J&J Medtech’s platforms compared to peer competitors. McEvoy also “strengthened our pipeline commitments and accelerated high-value projects,” the company said before crediting her with closing the Abiomed acquisition to expand J&J’s reach in cardiovascular disease and heart recovery. J&J announced its $16.6 billion purchase of the Impella heart pump developer in November and completed the deal within eight weeks. Her unit rebranded from Johnson & Johnson Medical Devices to Johnson & Johnson Medtech a year ago. More recently, J&J MedTech cut hundreds of jobs in its surgical robotics business this month. J&J MedTech said it had around 75,000 employees last year when surveyed by Medical Design & Outsourcing for our Medtech Big 100 ranking, but the company has not yet said whether that figure has substantially changed. Also this month, medtech industry association AdvaMed named McEvoy as its new chair. McEvoy joined J&J in 1996 as assistant brand manager for the subsidiary McNeil Consumer Health. She climbed the ladder over the years, becoming Vision Care company group chair in 2012 and Medical Devices company group chair in 2014. J&J promoted McEvoy to her current position in 2018, giving her responsibility for the surgery, orthopedics, interventional solutions and eye health businesses across the Ethicon, DePuy Synthes, Biosense Webster, Abiomed, and Johnson & Johnson Vision brands. J&J’s CEO pay ratio In the same filing with its executive pay packages, J&J also disclosed its CEO pay ratio. The SEC requires publicly traded companies to calculate a CEO pay ratio showing how much more the chief executive makes than the median employee. J&J estimated its median employee wage at $80,000, down from $90,000 in 2021. “The net effect of changes in currency exchange rates contributed to the decrease in the median,” the company said in its filing. “If the exchange rates had not changed during 2022, the median would have been $86,000.” That median wage and Duato’s $13.1 million pay package puts J&J”s CEO pay at 164 times more than the median employee’s pay. J&J said that ratio is likely a conservative estimate, and that the true pay gap between the CEO and median worker may be narrower.