LeBow Dean’s Forum Features Current and Past CFOs of Johnson & Johnson
Drexel University’s LeBow College of Business is proud to welcome Joe Wolk, executive vice president and chief financial officer at Johnson & Johnson, and Dominic Caruso ‘80, member of the board of directors at McKesson Corporation and retired executive vice president and chief financial officer, Johnson & Johnson, for a discussion on the evolving role of a CFO and the importance of strong governance during a time of unparalleled complexity in healthcare. The November 9 event was sponsored by Agile Therapeutics, a women’s healthcare company, and was held virtually via Zoom.
In a discussion moderated by Interim Dean Vibhas Madan, PhD, Wolk and Caruso share insights on how Johnson & Johnson and McKesson are working to successfully distribute and ensure global access to an affordable COVID-19 vaccine. The two discuss their leadership journeys and the importance of the succession planning process.
Joseph “Joe” J. Wolk is the executive vice president and chief financial officer for Johnson & Johnson. Wolk serves as a member of the company’s Executive Committee, plays a strategic role in the overall management of the company and leads the development and execution of the company’s global long-term financial strategy. Additionally, as a financial steward of Johnson & Johnson, Wolk’s scope of responsibilities include driving competitive and profitable growth, generating sustainable cash flow, allocating capital to maximize value creation and managing risk across the entire enterprise.
Prior to assuming his current role, Wolk held a variety of senior leadership roles in several segments and functions across Johnson & Johnson, where he achieved superior results. He served as the vice president of investor relations, vice president of finance for the Pharmaceuticals Group, vice president of finance for the Medical Devices Global Supply Chain and chief financial officer of the North America Pharmaceuticals Group.
Wolk is an accomplished, Credo-based leader, and is passionate about talent development, driving innovation and community service. He is the executive sponsor of Johnson & Johnson’s Veterans Leadership Council, a champion of the Finance Leadership Development Program and a member of the CNBC Global CFO Council.
Wolk holds a Bachelor of Science in Finance from St. Joseph’s University, where he currently serves on the Haub School of Business Board of Visitors, and a Juris Doctor degree from Temple University School of Law. He is also a Certified Public Accountant (CPA).**Dominic J. Caruso ’80** *Retired Executive VP & CFO, Johnson & Johnson*
Dominic J. Caruso retired as executive vice president and chief financial officer from Johnson & Johnson in August 2018, having served in the role since 2007. He led the company’s financial and investor relations activities, as well as the procurement organization. Caruso joined Johnson & Johnson in October 1999 as chief financial officer for Centocor, Inc., upon the completion of the merger of Centocor and Johnson & Johnson. Prior to joining Centocor, he had varied industry experiences with KPMG.
Caruso is actively involved in government relations activities globally, including having served as the co-chair of the U.S. Chamber of Commerce Global Initiative on Health and the Economy. He currently serves on the board of trustees of The Children’s Hospital of Philadelphia and the Cystic Fibrosis Foundation and has been a member of the Board of Directors at McKesson Corporation since September 2018, where he is chair of the Audit Committee and a member of the Compliance Committee.
Caruso graduated from Drexel University with a Bachelor of Science in Business Administration and was inducted into the Drexel 100 in 2007. He currently serves on the Drexel LeBow Dean’s Advisory Board and was one of the College’s first Executives in Residence.**Vibhas Madan, PhD** *R. John Chapel, Jr. Dean's Chair Economics*
Vibhas Madan, PhD, professor of economics, was appointed dean of Drexel University’s LeBow College of Business in December 2020 after serving as interim dean since November 2019. He joined the Dean’s Office in July 2018 as senior associate dean for academic programs. Prior to that, he served as the head of the Economics Department and then as the founding director of the School of Economics, which was launched as a new school within the College in 2013.
His research focuses on international trade theory with an emphasis on trade policy and multinational firms. His work has been published in many academic journals, including Canadian Journal of Economics, International Trade Journal, Journal of Quantitative Economics, Journal of Economic Integration and Review of International Economics. He has also published articles on price discounts and consumer behavior in Journal of Business Research and Journal of Product and Brand Management.
Dr. Madan has received several teaching awards, including the College of Business Teaching Award and the Executive MBA teaching Award. He serves on the board of the Global Interdependence Center. Dr. Madan received his Ph.D. in Economics from Michigan State University in 1989.