Outgoing Johnson & Johnson CEO Still Scores 55 Pct. Bonus Hike

Johnson & Johnson is bumping up the bonus of retiring CEO Bill Weldon by 55 percent for his performance in 2011. The New Brunswick, N.J., company said Friday Weldon will get a bonus of $3.1 million, up from $2 million for his 2010 performance. Weldon's bonus and total compensation were cut last year as Johnson & Johnson suffered through a string of product recalls. The health care products maker announced Tuesday that Weldon will retire as CEO on April 26. Alex Gorsky will become the company's new CEO and Weldon will remain company chairman. Gorsky is a vice chairman and the head of Johnson & Johnson's medical devices and diagnostics business.

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