Johnson & Johnson Prepares to Untangle Finances Ahead of Planned Split

is trying to figure out how to divide its supply chain and substantial financial holdings as part of a planned split into two publicly-traded businesses.split off its consumer-health business

J&J’s consumer-health unit generated $14.1 billion in sales last year, compared with $45.6 billion for pharmaceuticals and $23 billion for medical devices, according to a filing with securities regulators. The company operated 90 manufacturing facilities globally at the end of 2020. Chief Financial Officer Joseph Wolk and his employees have numerous tasks ahead of them, including opening bank accounts for the new company, setting up new financial systems for accounting and reporting, developing employee-benefit plans and selecting an independent auditor, he said. “All of those things that you might imagine exist today at Johnson & Johnson now have to be replicated for this new company,” Mr. Wolk said.

Mr. Wolk said he will become CFO of the remaining company. The board is expected to name a new chief executive and finance chief, as well as potentially board members, to lead the new consumer-health business sometime in the first half of 2022, he said.

They won’t fully split…they never do. Always something in IT, supply chain or HR that never fully decouples.

Also a way to minimize liability.... Seperate sectors so when one goes bankrupt because of lawsuits the other part survives .

Wall Street gimmicks to satisfy the greedy horde.

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