alex gorsky is here. the company goes back to 1886. so this is a huge piece of news. why now?. i know it's the day after. i want to acknowledge veterans day and the people in the military, the first responders, firefighters and the families that we can actually do these kind of things look, this is a historic day for johnson & johnson. we believe by separating our consumer business into a separate publicly traded company, it's in the best interest of our long-term stake holders. we realize this is a very unique time if you think of the changing dynamics and innovation in technology and marks and can else and our goal is really to korea it two global leaders, a pharmaceutical and medical device business that has great potential today strong pipelines for the future of course, the consumer business that's got iconic brands and we think we will be well positioned to have better focus on the strategy, around the execution, rather their ability to touch more consumers around the world. so we're excited and again we think this represents a great shareholder. >> i know you were with

that is alex gorsky, johnson & johnson chairman and ceo. back to you. alix: really appreciate it, david westin bringing us that interview. j&j stock up by 1.4%. it comes on the heels of ge splitting into three businesses, totally different sectors. it feels like the era of the big business in traditional may be over in the u.s. coming up, scotexit. could the worst be over for the global chip shortage? we will get some answers from kurt sievers, nxp semiconductors ceo. they had a long-term growth report yesterday. we will talk about what we learned and what their view is in 2020. this is bloomberg. every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if yo

i think alex gorsky is a great executive. >> we do know that splits -- we've been talking about and kidding about shrink to grow -- >> laser focused. >> all those words that bankers use, but that's the story in the market it's one week. we've seen two iconic companies choose to go down this road because of focus, because of the customer level, consumer level, in the marketplace itself. they continue to say as well there was a growing divergence between these businesses, even more so as a result of covid there was once when it went to otc and you could see some overlap there. >> what i regard as football brands in the store, meaning that you can have a knockoff that looks just like them from walgreens that people will buy, because it's cheaper you go to the cornstarch baby powder, i don't know -- >> we're not even mentioning what pfizer has done or what merck has done or raytheon, and more reports about what toshiba may do >> that's interesting. that's under pressure. how by glaxosmithkline under pressure right know -- these guys are tough. >> that's elliott, right >> yeah. >> they're tough

they do at ge, and to give top management an opportunity to focus on the business line, to use alex gorsky's phrase, greater agility, greater capacity to get the job done. simply put, it's good for management and definitely for consumers. romaine: you mentioned twinkies and car rentals being under the same roof, i assume that was a reference to itt. what he did was very successful at the time. you talk about a company worth a few million dollars and turn into a multibillion-dollar company, but as soon as he left, this is what, 1970 nine or 19 80, there seemed to be at that particular company some sort of awareness that having a multi-headed company or conglomerate in the way he built it was not necessarily the best way to run an operation. if itt and the shareholders and the board and executives realize that in 1980, why did it take us until the two thousands before general electric seemed to get the same message? >> great question. it should have happened 20 years ago. inertia has its own guidance. it has been a trend. investors have applauded for decades, for example when itt did break up,

alex gorsky joining bloomberg earlier saying both businesses will have mid single-digit growth potentialtake a listen. alex: both businesses have the potential to be growing at least mid single digits and above going forward. we think this will better position our consumer business in this evolving environment to be more agile, flexible, and innovative to reach more consumers. emily: this is not the only company that announced a split. ge enters she but this week announced they are splitting up. -- and toshiba this week announced they are splitting up. there have been lots of calls for breakup of big tech, but is it something we could see from facebook, google, amazon, going down the route of these companies paving the way? >> i don't think we are there yet, but they are increasingly diversifying their businesses. facebook renamed itself was now a meta-verse company. last quarter, it said it would be splitting up how it reports its revenue and expenses for its virtual reality division and separating that from how it reports social media business statistics. we have google investing in he

. >> we have alex gorsky, the ceo of johnson & johnson joining the apple board. he is also on the business roundtable board of director as well as ibm and the wharton school of pennsylvania so now he is member of the apple board of directors >> at first i thought it is a board appointment, but then i thought it is the ceo of johnson & johnson and apple has had health ambitions i am wondering how you interpret this >> it is interesting he is a great guy, popular it is interesting because as apple wants to get into this, i think there is a lot of open space for them and i think he is an excellent choice. >> coming up, three big movers the traders are breaking down why the name is lighting up. what does the split mean for the company? "fast money" is back right after this for some folks it's like baby steps. maybe it's a jump or eating something green. or taking mom to get that vaccine. ♪ healthier means bringing stuff to the folks ♪ ♪ that really need it. ♪ ♪ like millie's meds straight to her door or care at home. ♪ ♪ believe it. ♪ ♪ sometimes it's healthier to la