Johnson & Johnson Chief Financial Officer Dominic Caruso plans to retire in September and will be replaced by Joseph Wolk, vice president of investor relations, the company said Tuesday.
Caruso was named CFO in 2007 and has held the position longer than anyone in company history. He has been with J&J for 19 years.
"During his nearly 12 years as CFO, Dominic provided Credo-based leadership and financial stewardship through the economic downturn and was instrumental in helping the Company deliver significant gains over the past five years," CEO Alex Gorsky said in a statement. The "credo" is a reference to the company's 75-year-old code.
Wolk is slated to start July 1. He has reported directly to Caruso since 2004 when he joined the finance leadership team. He previously served as vice president of finance and chief financial officer of J&J's Janssen business.
"His varied experience has brought innumerable benefits to the corporation and we look forward to the valuable contributions he will make in his new role," Gorsky said.