CFO Studio Magazine with Alison Cornell

28 WWW.CFOSTUDIO.COM Q1 2017 Principles for Growth THE CFO OF JOHNSON & JOHNSON LINKS ETHICAL DECISION-MAKING WITH STEADY, STRONG RETURNS D ominic Caruso, CFO of Johnson & Johnson, told CFOs gathered at a recent CFO Studio Reception held in his honor that the company bases all its important decisions on the Credo that General Robert Wood Johnson II wrote in 1943. But he said he realized that the audience might be a little bit skeptical. They might wonder “How stringent are you? Do you ever bend? Do you ever flex?” “We do flex these principles,” he said. “We constantly challenge ourselves. We go to Credo challenge sessions tomake sure we understand what [the Credo’s wording] means in the new environment.…But we generally stay pretty close to those principles.” He noted that the Credo is “not an aspirational statement,” but a set of responsibilities by which “we live our lives at Johnson & Johnson and make business decisions.” Each of its four paragraphs talks about “what we must do for each of our constituencies.” First, for patients; then for employees — their welfare and careers; next for the communities where the company lives and works around the world; lastly, for shareholders. General Johnson was a shareholder, “and he placed himself last.” Mr. Caruso said that the 32 consecutive years of adjusted earnings growth that J&J has returned is “the proof in the pudding” that the company’s firm principles are properly guiding J&J through turbulent times and changes in economic circumstances. An attentive group of around 60 finance leaders from New Jersey and the tri-state area formed the audience at the Heldrich Hotel in New Brunswick, NJ. CFO Studio Publisher Andrew Zezas introduced Mr. Caruso, who was profiled in the Q4 2016 cover story, stating that under Caruso’s stewardship, Johnson & Johnson has strengthened and built upon its position as the world’s largest and most diversified health care company. RECEPTION B C D E F A A L. to R.: Andrew Zezas, Dominic Caruso B Mr. Caruso C Della Cherchia D Daniel Loughlin E L. to R.: Patrick Toussaint, Subhas Wessels, Michael Schley F L. to R.: James Derasmo, Christopher Borgese EVENTS BUSINESS DEVELOPMENT PARTNERS The CFO Studio Reception is an invitation-only event held quarterly at elegant venues in New Jersey in honor of the CFO whose cover story appears in CFO Studio magazine in that same quarter. Visit www.cfostudio.com to request an invitation.