The CEO of Mead Johnson Nutrition, Steve Golsby, has announced his intention to retire from the role next year.

The US infant formula manufacturer said Golsby intends to retire by the 2013 annual meeting of stockholders. He will remain a director of the company. The board has appointed COO Kasper Jakobsen as CEO-elect with immediate effect.

Jakobsen is expected to succeed Golsby as Mead Johnson president and CEO upon Golsby’s retirement. He will continue in his role as COO, and the current senior leadership structure and reporting relationships will remain in effect, the company said.

“Steve has been an extraordinary leader of the Mead Johnson Nutrition team since the company’s initial public offering on the New York Stock Exchange in February 2009, and for many years prior to that, while Mjn was a wholly owned subsidiary of Bristol-Myers Squibb,” said chairman of the board Jim Cornelius. 

“The board is fully supportive of Mr Golsby continuing to serve as a director on the MJN board following his retirement. The board maintains robust succession plans at all senior levels of the organisation contemplating such events.”