Johnson & Johnson (NYSE: JNJ) has announced the retirement of Dr. Peter M. Fasolo, the Executive Vice President and Chief Human Resources Officer, effective at the end of this year. Dr. Fasolo has served the company for 16 years, during which he has made significant contributions to Johnson & Johnson's human capital strategy. His successor, Kristen Mulholland, will assume the role of Chief Human Resources Officer and will also be appointed as a member of the Executive Committee, effective October 1, 2024.
Under Dr. Fasolo's leadership, the company's global Diversity, Equity & Inclusion outcomes were strengthened, and employee benefits and policies were expanded, including increased paid time off for leaves such as military, parental, bereavement, volunteerism, and mental well-being. Dr. Fasolo has been recognized for his contributions to the Human Resources profession, being named a National Academy Human Resources Fellow in 2017 and Human Resource Executive’s HR Executive of the Year in 2022.
Kristen Mulholland, who has been with Johnson & Johnson since 2005, has had a distinguished career across the Company’s Innovative Medicine and MedTech sectors. In her most recent role as Head of Human Resources, Global Total Rewards & Enterprise HR Functions, she worked closely with the Board of Directors, supporting the Compensation & Benefits Committee, and played a key role in the separation of the consumer business to form Kenvue.
The company's Chairman and Chief Executive Officer, Joaquin Duato, expressed confidence in Mulholland's ability to advance Johnson & Johnson’s culture and operating model, citing her deep business acumen, talent expertise, and Credo-based approach.
These changes in leadership signal a significant transition for the company's human capital strategy and the continuation of its commitment to a strong, inclusive, and patient-focused culture. Today the company's shares have moved 0.3% to a price of $164.61. For the full picture, make sure to review Johnson & Johnson's 8-K report.
