Johnson & Johnson is a company of enduring strength. We credit our success to a Credo-based approach to managing our business, and to the character of our people and our Board of Directors. Our Board of Directors, which consists of 13 members, is a diverse group of individuals who are elected by our shareholders each year.
Our Board holds the ultimate authority of our Company, except to the extent that our shareholders are granted certain powers under the Company's Certificate of Incorporation and By-Laws. Qualifications for the Board of Directors and standards of independence are laid out in our Principles of Corporate Governance and additional guidelines are outlined in our Code of Business Conduct & Ethics for Members of the Board of Directors and Executive Officers.
We believe good corporate governance results from sound processes that ensure our directors are well supported by accurate and timely information, sufficient time and resources and unrestricted access to management. Additionally, we believe the business judgment of the Board must be exercised independently and in the long-term interests of our shareholders.
The Board of Directors:
- Appoints senior management of the Company, who are responsible for conducting business and operations;
- Provides oversight of management and offers strategic direction to the company; and
- Forms standing Board Committees to assist in fulfilling its obligations.
The Board of Directors has six standing committees: the Audit Committee; the Compensation & Benefits Committee; the Nominating & Corporate Governance Committee; the Finance Committee; the Public Policy Advisory Committee; and the Science & Technology Advisory Committee.
The Public Policy Advisory Committee assists the Board of Directors by reviewing and making recommendations regarding Company positions on public policy issues facing the Company, public health issues, the health and safety of employees, the environment and other issues pertinent to our social, environmental and economic performance.