Company Website:
http://www.meadjohnson.com
GLENVIEW, Ill. -- (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).
Contacts:
Mead Johnson Nutrition Company
Investors:
Kathy
MacDonald, (847) 832-2182
kathy.macdonald@mjn.com
or
Media:
Christopher
Perille, (847) 832-2178
chris.perille@mjn.com
Source: Mead Johnson Nutrition Company
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