Johnson & Johnson's Top Medtech Exec Bids Farewell

Ashley McEvoy, a well-known medtech leader, is leaving Johnson & Johnson after nearly three decades with the company. She has spent the past 5 years as executive vice president and worldwide chair of the company's medtech business.

McEvoy announced her plans to move on from the company "to pursue new opportunities" Monday after the markets closed. Tim Schmid, who currently serves as chairman of medical devices for J&J's Asia Pacific business, has been appointed as McEvoy's replacement.

"It is no overstatement to say that my time at J&J – and in particular leading the MedTech business, our team of more than 70,000 colleagues worldwide – has been the honor and privilege of my career," McEvoy wrote in a LinkedIn article.

Under McEvoy's leadership, Johnson & Johnson's medtech growth has gone from 1.5% to 8%, and the business has deployed more than $22 billion in capital in acquisitions, not to mention building a robotics business from scratch.

McEvoy praised Schmid's leadership of the Asia Pacific business, turning it into one of J&J's fastest growing regions for medical devices. Schmid also led a transformation of J&J's relationships with hospital systems in the United States in his previous role as chief customer officer.

"Tim is more than just my successor, he is a trusted friend and partner," McEvoy wrote. "When I had my fourth child, Tim ran the business while I was on leave, and when I went to run [J&J's vision business], he backfilled my role as worldwide president of Ethicon, so it’s both fitting and meaningful that I am passing the baton to him now."

Above: Ashley McEvoy speaks during the Kairos Society Global Summit on February 22, 2013, in New York City. McEvoy is bidding farewell to Johnson & Johnson after nearly 30 years at the company, most recently serving as the top executive for J&J's medtech business.

McEvoy shared that she was 26 when she started her career at J&J as an assistant product director on the Tylenol brand.

"In the time since, I've had the career of a lifetime, leading five companies within J&J and raising five children along the way," McEvoy wrote. "I’ve always taken on new challenges, driven by curiosity, a deep and lifelong passion for healthcare and making it possible for people to lead better lives – and this company has allowed me to do that beyond my greatest imagination. "

While expressing excitement for "what the next chapter will bring," McEvoy stopped short of sharing her future career plans.