The move will separate the health care giant's consumer business from its pharmaceutical and medical device operations.

Among other measures, a $2 billion trust will be established to facilitate an efficient resolution of claims.

Jessica Moore will assume her new role on Nov. 1. She most recently served as vice president and CFO for the Janssen Pharmaceutical business.

Dr. Paul Stoffels will depart at the end of the year. His purview saw the establishment of J&J Innovation, or JLABS, which has more than 700 companies incubating today. He described his time at the New Brunswick-based company as "an honor and a privilege."

The New Brunswick-based health care company says that protection against COVID-19 increases when a second shot, given about two months after the first, is administered.

Jurors at the Philadelphia Court of Common Pleas found that Johnson’s Baby Powder is safe and does not cause cancer, the company said in a statement on the verdict.

The New Brunswick drugmaker said there was a four-fold increase in COVID-19 immunity for patients who took the inoculation two months after the initial dose, and a 12-fold increase for those getting the shot six months later.

Alex Gorsky will continue to serve as executive chairman while Joaquin Duato transitions to the role of chief executive officer.

Christopher DelOrefice will succeed the retiring Christopher Reidy effective Sept. 6 and gain immediate responsibility of the company's global finance organization.