Sherilyn McCoy, a vice chairman of the Johnson & Johnson (NYSE:JNJ) executive committee, has resigned to take the top job at cosmetics firm Avon.
McCoy had been with the New Brunswick, New Jersey-based pharmaceutical giant for 30 years, but had recently been passed over for the CEO vacancy created by William Weldon departure earlier this year in favor of her fellow vice chair on the executive committee, Alex Gorsky.
She had started at the Big Pharma company in 1982 as a research scientist and became vice president of marketing for the skincare business in 2000, and ultimately was named worldwide chairman of the pharmaceuticals group in 2009. She was appointed as vice chair of the executive committee last year.
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Johnson & Johnson has struggled with a steady stream of product recalls, particularly its DePuy division over its ASR metal-on-metal hip replacement system, which cost the company $521 million. It has also been forced to revamp its McNeil Consumer Healthcare plant to improve operations following recalls there.
