Johnson & Johnson announced a leadership transition in its Innovative Medicine division Aug. 4. 

Tom Cavanaugh will take the reins as executive vice president, worldwide chairman, Innovative Medicine, effective Sept. 1. He succeeds Jennifer Taubert, who announced her retirement after more than 21 years at Johnson & Johnson. 

Currently serving as company group chairman, North America, Innovative Medicine – Johnson & Johnson’s largest commercial region – Cavanaugh will also join the firm’s executive committee. 

He brings nearly three decades of biopharmaceutical experience and leadership to the new role. Cavanaugh joined Johnson & Johnson in 2017 and has held senior leadership positions in oncology, immunology and global commercial strategy.  

Before joining the New Brunswick health giant, Cavanaugh held leadership roles with Celgene for nearly 15 years and was with Pharmacia for five years, according to his LinkedIn profile. 

“I am pleased to appoint Tom to this important role as we advance our pipeline and bring transformative medicines to patients around the world,” Johnson & Johnson Chairman and CEO Joaquin Duato said in a statement. 

Duato highlighted Cavanaugh’s “deep understanding of our business, proven track record of growth, and focus on developing people.” 

Cavanaugh earned a bachelor’s in chemistry from North Carolina State University, according to LinkedIn. 

A $60B business

Duato also thanked Taubert for her “extraordinary impact on patients, our business, and generations of leaders across our company.” 

The company credited Taubert with boosting its Innovative Medicine business to more than $60 billion in annual revenue. 

“Her contributions accelerated delivery of new medicines across oncology, immunology, neuroscience, cardiovascular disease and other areas of significant unmet need, fueling one of the fastest growing companies in the industry,” the company noted. 

Duato added, “Her vision, leadership, unwavering commitment to healthcare innovation, and passion for talent development helped define an era of growth and position us for future success.”

On July 29, Johnson & Johnson finalized its $1 billion acquisition of Firefly Bio Inc., which gives the company access to a proprietary technology designed to target hard-to-treat cancer tumors.