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news.Johnson & Johnson has revealed that two of its foreign subsidiaries have made improper payments relating to the promotion of certain medical devices and the executive in charge has left the company.
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Johnson & Johnson voluntarily disclosed the information to the US Department of Justice and the US Securities and Exchange Commission.
Johnson & Johnson said the actions were contrary to its policies, and the payments may fall within the jurisdiction of the Foreign Corrupt Practices Act. The company, however, did not name the countries and did not offer details of the payments.
The executive in charge, Michael Dormer, who was worldwide chairman of Medical Devices & Diagnostics, has retired from the company. The new worldwide chairman was named as Nicholas Valeriani.
Michael Dormer said he had “ultimate responsibility by virtue of my position” for those subsidiaries that were the subject of the disclosure.
The foreign corruption law prohibits American companies from paying foreign government officials to win or influence business deals outside the country.