Johnson & Johnson names Kristen Mulholland as new CHRO
After 16 years at J&J, the current CHRO Dr Peter Fasolo will be retiring at the end of the year. From 1 October, Mulholland will join the pharma giant’s Executive Committee and there will be a transition period.
News In Brief
Dr Peter Fasolo, CHRO at pharmaceutical giant Johnson & Johnson (J&J), has announced his retirement at the end of the year.
He will be replaced by Kristen Mulholland, a senior leader in the HR team with 19 years experience at J&J.
Find out what the appointment means for the future of J&J as an employer, and a business. Its 2024 Q2 financial results were very promising!
After 16 years of service at Fortune 100 global pharmaceutical giant Johnson & Johnson (J&J), Dr Peter Fasolo has announced he will be retiring from his role as EVP and CHRO at the end of 2024.
J&J has announced Dr Fasolo’s successor, Kristen Mulholland, who has worked at the pharma giant since 2005 and has held numerous HR leadership positions.
Mulholland’s current role is Head of Human Resources, Global Total Rewards & Enterprise HR Functions.
Kristen Mulholland, incoming CHRO, J&J.
She will join J&J’s Executive Committee from 1 October, and then will work closely with Dr Fasolo during a transition period until the end of the year.
Talking about the appointment, J&J Chairman and CEO Joaquin Duato commented: “I’m pleased to appoint Kristen to this important role where she will apply her deep business acumen, talent expertise and Credo-based approach to advance J&J’s culture and operating model.”
J&J CEO’s mention of “Credo” refers to an Our Credo’ document that guides the pharma giant’s decision making.
This framework was created by Robert Wood Johnson, a J&J chairman from the 1930s, and it spells out the company’s commitments to diversity, equity, inclusion and belonging, employee wellbeing and career development, as well as its responsibility to improve the health of society as a whole.
“I’m confident her breadth of experience and strong leadership will ensure Johnson & Johnson’s human capital strategy is poised to deliver the innovative future-ready talent and culture needed to advance healthcare solutions for patients worldwide.”
A new face at the helm of J&J HR
Posting on LinkedIn about the news of his retirement, Dr Fasolo shared that the decision was made “with a heavy heart”.
He continued: “I joined J&J for the same reason I’ve stayed here for over 16 years – the values expressed in Our Credo and the people who run to work here each day on behalf of patients.
“It’s been a privilege and honor to serve as J&J’s Chief Human Resources Officer through three CEOs, a global pandemic, and the transformation to a company focused exclusively on healthcare.”
Duato echoed this sentiment in a statement: “Throughout his career, Peter has always led with two principles in the forefront of every decision and recommendation – Our Credo values and a deep responsibility to our employees.
“He leaves a legacy of strong leaders, deep bench strength and an inclusive, caring and patient-focused culture.”
Fasolo also passed on his congratulations to Mulholland, who he described as “incredibly talented”.
Watch this space, as Mulholland continues to shape world of work for J&J’s 130,000 employees across the world and further drive ongoing financial success for the business.
The pharma giant recently published its financial report for the second quarter (Q2) of 2024. This shows that J&J’s sales reached $22.4 billion, a 4.3% increase on Q2 2023. Net earnings also hit $4.7 billion last quarter.
