10:04 — Johnson & Johnson Chairman and CEO Bill Weldon addresses shareholders at company’s annual meeting #JNJAM10

10:37 — CEO Weldon says 70% of sales are from products with #1 or #2 market share positions #JNJAM10

10:37 — CEO Weldon says it is the 48th consecutive year Johnson & Johnson has increased quarterly dividend #JNJAM10

10:38 — CEO Weldon says that in 2009, Johnson & Johnson delivered total shareholder return of 11.3 percent #JNJAM10

10:40 — Shareholders elect nominees to the J&J Board of Directors/ratify PricewaterhouseCoopers as independent auditors for 2010 #JNJAM10

10:41 — Johnson & Johnson increased quarterly dividend from 49 cents a share to 54 cents a share http://bit.ly/bnhLmx #JNJAM10

10:46 — CEO Weldon outlines 4 factors that enable growth that will be focused on: 1) innovative products, 2) robust pipelines #JNJAM10

10:47 — CEO Weldon outlines 4 factors that enable growth that will be focused on: 3) global presence, 4) talented people #JNJAM10

10:49 — WW Chairman of Consumer, Colleen Goggins addresses the Johnson & Johnson shareholder meeting #JNJAM10

10:50 — Goggins describes opportunities for the consumer business: emerging markets, digital media, non-traditional retail channels, sustainability

10:55 — Johnson & Johnson increased quarterly dividend from 49 cents a share to 54 cents a share http://bit.ly/bnhLmx #JNJAM10 $JNJ

11:03 — Goggins highlights Text4Baby initiative (http://bit.ly/9mo0nK and http://bit.ly/csUdPt) at J&J shareholder meeting #JNJAM10

11:04 — WW Chairman of Medical Devices and Diagnostics Alex Gorsky addresses Johnson & Johnson shareholder meeting http://bit.ly/2mgd9k #JNJAM10

11:10 – Gorsky says MD&D segment is “largest in the world” and then highlights some of the breakthrough innovations the company is bring to market

11:19 — WW Chairman of Pharmaceuticals Sheri McCoy addresses Johnson & Johnson shareholder meeting http://bit.ly/2mgd9k #JNJAM10

11:23 — McCoy describes how the global pharmaceutical market is roughly $775 billion and projected to grow to over a trillion by 2014 #JNJAM10

11:39 — CEO Weldon describes the company’s Bridge to Employment program — and how it builds HC systems and lives http://bit.ly/b34Q83 #JNJAM10

11:42 — CEO Weldon talks about how Johnson & Johnson responded to the earthquake in Chile http://bit.ly/dwGAXm #JNJAM10

12:23 — That’s the end of the presentations at the J&J annual shareholders meeting. Thanks for joining us. http://bit.ly/2mgd9k #JNJAM10

This is my first post on JNJ BTW.

Today, I’m writing on a subject near and dear to my heart—shareholder voting. You may have heard that earlier this month the U.S. Securities & Exchange Commission (SEC) announced a number of corporate governance reforms aimed at shoring up investor confidence. You can read about all of those reforms in the SEC’s press release, but I’d like to highlight in this post what is perhaps the most significant of these reforms—one that may directly impact you if you own Johnson & Johnson stock through a brokerage account–the elimination of the “broker vote” in uncontested director elections.

For those of you who don’t live and breathe this subject, I’ll attempt to translate that into plain English.
Previously, under the rules of the New York Stock Exchange, if stock brokers didn’t receive instructions from clients on how to vote their shares on the election of the board of directors at an upcoming annual meeting, the broker had the discretion to vote those uninstructed shares as they deemed appropriate. Since typically retail brokerage account holders who did vote tended to vote in favor of the recommendations made by the listed company’s management team, most brokers voted uninstructed shares along management’s recommendations.

To illustrate how this discretionary broker voting worked, let’s say you owned 100 shares of Johnson & Johnson stock in a brokerage account at XYZ-Trade. You received your Johnson & Johnson Annual Report, Proxy Statement and proxy card for the April 23, 2009 Annual Meeting in the mail from XYZ-Trade sometime in mid-March. As you typically do every year, you perused the Chairman’s letter and some of the stories about Johnson & Johnson’s newest business developments in the Annual Report, but you didn’t mail your proxy card back to XYZ-Trade in time to vote on the Johnson & Johnson Board of Directors or other business. In the final days before the Annual Meeting, XYZ-Trade saw that you had not instructed them on how to vote your 100 shares of Johnson & Johnson stock and thus cast the votes for the election of directors on your behalf.

Because of the SEC’s recent action, your broker will not be able to do this for next year’s Johnson & Johnson Annual Meeting. From now on, if you don’t take the affirmative step of telling your broker how to vote your shares in director elections, your votes will not be counted at all. Why am I taking the time to explain this to you? Basically, I am encouraging you to vote. Vote your shares at next year’s Annual Meeting and at every shareholder meeting after that one for as long as you own Johnson & Johnson stock. Vote in line with Johnson & Johnson management’s recommendations or vote against them if that’s what you wish. Just please take the time to vote, not only for our shareholder meetings, but for all of the companies in which you hold stock. We think it’s important that you do so. After all, voting in director elections is your legal right as a shareholder and starting now, if you don’t, no one will do it for you. At Johnson & Johnson, we believe in shareholder engagement and hope you exercise your right to vote going forward.

Margeret goes on to provide a wonderful recap of some little known facts about the Annual Meeting of Shareholders that is well worth checking out.