The Johnson & Johnson subsidiary -- Cordis -- has had significant turnover of upper management with the latest announcement that Todd Pope, the Cordis group's worldwide president, would leave on July 11.

Pope is said to be leaving to pursue opportunities outside the company and to spend time with his family. A replacement has not yet been named and Cordis said it was not speculating on when Pope's slot would be filled.

Cordis makes medical devices that are used in cardiovascular procedures, particularly drug-eluting stents--small wire-mesh devices that hold the heart arteries open and are covered in therapeutic drugs. There have been signs the stent market is weakening. One of Cordis' major competitors, Boston Scientific, cut jobs at the end of last year, with the Street expecting 2,000 to 3,400 more cuts from its 28,000 employee total.
Pope is the seventh senior person to announce his departure, according to Wachovia analyst Larry Biegelsen, who broke the news to clients Friday morning.

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