Mead Johnson Nutrition Increases Size of Board and Names Michael Sherman as Director
04 March 2015 - 12:32PM
Business Wire
Mead Johnson Nutrition Company (NYSE: MJN) announced that, at
its meeting last week, the Board of Directors increased the maximum
size of the board from 12 to 13 and appointed Michael A. Sherman as
a new director.
Mr. Sherman is the Chief Operating Officer and Chief Financial
Officer of Endocyte Inc., a biopharmaceutical company headquartered
in West Lafayette, Indiana. He has been Endocyte’s Chief Financial
Officer since 2006.
Previously, Mr. Sherman served in various executive roles, most
recently as vice president of finance and strategic planning of
Guidant Corporation, a cardiovascular device manufacturer acquired
by Boston Scientific Corporation, a medical device company.
Mr. Sherman holds a BA in economics from DePauw University and
an MBA from the Tuck School of Business at Dartmouth. He also
serves on the Indianapolis Children’s Museum Board of Trustees.
“Mike’s wide-ranging financial expertise, as well as his
experience in health-related industries, will add value to Board
deliberations and our efforts to support Mead Johnson’s business
growth and advance the company’s mission to nourish the world’s
children for the best start in life,” said James M. Cornelius,
Chairman of the Board.
About Mead Johnson
Mead Johnson, a global leader in pediatric nutrition, develops,
manufactures, markets and distributes more than 70 products in over
50 markets worldwide. The company’s mission is to nourish the
world’s children for the best start in life. The Mead Johnson name
has been associated with science-based pediatric nutrition products
for over 100 years. The company’s “Enfa” family of brands,
including Enfamil® infant formula, is the world’s leading brand
franchise in pediatric nutrition. For more information, visit
meadjohnson.com.
Forward-Looking Statements
Certain statements in this news release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements may be identified by the fact they
use words such as “should,” “expect,” “anticipate,” “estimate,”
“target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe”
and other words and terms of similar meaning and expression. Such
statements are likely to relate to, among other things, a
discussion of goals, plans and projections regarding financial
position, results of operations, cash flows, market position,
product development, product approvals, sales efforts, expenses,
capital expenditures, performance or results of current and
anticipated products and the outcome of contingencies such as legal
proceedings and financial results. Forward-looking statements can
also be identified by the fact that they do not relate strictly to
historical or current facts. Such forward-looking statements are
based on current expectations that involve inherent risks,
uncertainties and assumptions that may cause actual results to
differ materially from expectations as of the date of this news
release. These risks include, but are not limited to: (1) the
ability to sustain brand strength, particularly the Enfa family of
brands; (2) the effect on the company’s reputation of real or
perceived quality issues; (3) the effect of regulatory restrictions
related to the company’s products; (4) the adverse effect of
commodity costs; (5) increased competition from branded, private
label, store and economy-branded products; (6) the effect of an
economic downturn on consumers’ purchasing behavior and customers’
ability to pay for product; (7) inventory reductions by customers;
(8) the adverse effect of changes in foreign currency exchange
rates; (9) the effect of changes in economic, political and social
conditions in the markets where we operate; (10) changing consumer
preferences; (11) the possibility of changes in the
WIC(1) program, or participation in WIC; (12) legislative,
regulatory or judicial action that may adversely affect the
company’s ability to advertise its products, maintain product
margins, or negatively impact the company’s reputation or result in
fines or penalties that decrease earnings; and (13) the ability to
develop and market new, innovative products. For additional
information regarding these and other factors, see the company’s
filings with the United States Securities and Exchange
Commission (the “SEC”), including its most recent Annual
Report on Form 10-K, which filings are available upon request from
the SEC or at www.meadjohnson.com. The company
cautions readers not to place undue reliance on any forward-looking
statements, which speak only as of the date made. The company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
(1) The Special Supplemental Nutrition Program for Women,
Infants and Children (WIC) is a federal assistance program of
the Food and Nutrition Services (FNS) of the United States
Department of Agriculture (USDA).
Mead Johnson Nutrition CompanyInvestors:Kathy MacDonald,
(847) 832-2182kathy.macdonald@mjn.comorMedia:Christopher
Perille, (847) 832-2178chris.perille@mjn.com
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