Investor urges J&J to spin out poor-performing device, consumer businesses

depuy-2014-iconIt’s not a new argument, but it’s back on the table again now in a big way. Activist investor Artisan Partners is working to convince other investors to back splitting conglomerate Johnson & Johnson ($JNJ) into three separate businesses.

The Financial Times reported in a Jan. 27 article that the firm’s managing director Daniel O’Keefe made a presentation last year to the board and execs at J&J to lobby for a split into three separate companies for its biopharma, consumer and medical device businesses. The last has been performing poorly and was just the focus of a restructuring announced earlier this week.

Artisan Partners followed up with an open letter from O’Keefe to the J&J board on Jan. 28 that details the firm’s objections to J&J’s existing structure. The firm, which has roughly $100 billion under management, had a $445 million stake in J&J at Sept. 30.

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About Peter Coffaro 1102 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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