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Celgene CFO to step down; former J&J executive named as replacement

Celgene Corp. said its CFO Peter Kellogg will step down from his position and will be replaced by former Johnson & Johnson executive David Elkins.

Kellogg will become executive vice president and chief corporate strategy officer until his retirement in mid-2019.

Elkins will join the Summit, N.J.-based drugmaker on July 1 and become CFO effective Aug. 1. He was previously serving as Johnson & Johnson's worldwide vice president and CFO for consumer products, medical devices and corporate functions.

As part of his new position, Kellogg will work with Celgene's executive team to help devise the strategy for long-term growth beyond 2020. He will also work closely with Elkins to ensure the transition of all financial and operational matters.

Celgene's President and COO Scott Smith left in April, and the company stated at the time that it was modifying its executive team structure to focus on long-term success.