Mead Johnson's CEO to Retire Next Year, COO to Take Over

By IndustrialsFOXBusiness

Baby-formula maker Mead Johnson Nutrition (NYSE:MJN) said on Friday that chief operating officer Kasper Jakobsen will be appointed to chief executive officer following the 2013 retirement of current CEO Steve Golsby.

Golsby, who has served as CEO since before Mead’s initial public offering in February 2009, told the board that he intended to retire by the annual shareholder meeting next year. He will remain a part of the board of directors.

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Jakobsen, who was unanimously appointed by the board, immediately joined the company’s board of directors and will move up to CEO from COO when Golsby steps down.

“The board is fully supportive,” Mead chairman Jim Cornelius said in a statement. Jakobsen, he said, “has the confidence of the full board.”

Jakobsen is a 14-year veteran of Mead Johnson and has served in a variety of leadership roles, including operational responsibility for the businesses in Asia, North America and Latin America. He was appointed to COO earlier this year.