BECTON DICKINSON & CO (BDX, NYSE)
Annual report, fiscal year 2011



2011 Annual Report



BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.

## Financial Highlights

<table><tr><td>Thousands of dollars, except per share amounts</td><td>2011</td><td>2010</td><td>Change</td></tr><tr><td>Operating results</td><td></td><td></td><td></td></tr><tr><td>Revenues</td><td>$7,828,904</td><td>$7,372,333</td><td>6.2%</td></tr><tr><td>Income from continuing operations</td><td>$1,264,852</td><td>$1,176,340</td><td>7.5%</td></tr><tr><td>Diluted earnings per share, from continuing operations</td><td>$5.59</td><td>$4.90</td><td>14.1%</td></tr><tr><td>Dividends per common share</td><td>$1.64</td><td>$1.48</td><td>10.8%</td></tr></table>



## At a Glance

## $7.829 Revenue (billions of dollars)*



BD Medical

BD Diagnostics

BD Biosciences

## BD Medical

BD Medical is among the world’s leading suppliers of medical devices and a leading innovator in injection- and infusion-based drug delivery since 1906, when the Company built the first-ever facility in the U.S. to manufacture needles and syringes. The BD Medical segment is focused on providing innovative solutions to reduce the spread of infection, enhance diabetes treatment and advance drug delivery.





## $4.007 Revenue (billions of dollars)

Medical Surgical Systems $2.082

Pharmaceutical Systems $1.059

Diabetes Care $.866

## Customers Served

• Hospitals and clinics

• Physicians' office practices

• Consumers and retail pharmacies

• Governmental and nonprofit public health agencies

• Pharmaceutical companies

• Healthcare workers

## Products

• Needles and syringes

• Intravenous catheters

• Safety-engineered and auto-disable devices

• Prefillable drug delivery systems

• Prefilled IV flush syringes
• Insulin syringes and pen needles

• Regional anesthesia needles and trays

• Self-injection systems

• Sharps disposal containers

• Closed-system drug transfer devices






## BD Diagnostics

BD Diagnostics is a leading provider of products for the safe collection and transport of diagnostics specimens, as well as instruments and reagent systems to accurately detect a broad range of infectious diseases, healthcare-associated infections (HAIs) and cancers. The BD Diagnostics segment focuses on improving health outcomes for patients by providing laboratories with solutions that improve quality, enhance laboratory system productivity and inform medical decisions.



## $2.480 Revenue (billions of dollars)*

Preanalytical Systems $1.278
Diagnostic Systems $1.203



## Customers Served

• Hospitals, laboratories and clinics

• Reference laboratories

• Blood banks

• Healthcare workers

• Public health agencies

• Physicians' office practices

• Industrial and food microbiology laboratories

## Products

• Integrated systems for specimen collection

• Safety-engineered blood collection products and systems

• Automated blood culturing systems

• Molecular testing systems for infectious diseases and women’s health
• Microorganism identification and drug susceptibility systems

• Liquid-based cytology systems for cervical cancer screening

• Rapid diagnostic assays

• Plated media



## BD Biosciences

BD Biosciences is a world leader in bringing innovative diagnostic and research tools to life science researchers, clinical researchers, laboratory professionals and clinicians who are involved in basic research, drug discovery and development,



biopharmaceutical production and disease management. The BD Biosciences segment is focused on continually advancing the science and applications associated with cellular analysis and products that help grow living cells and tissue.

## $1.341 Revenue (billions of dollars)

Cell Analysis $1.024

Discovery Labware $3.17



## Customers Served

• Research and clinical laboratories

• Academic and government institutions

• Pharmaceutical and biotechnology companies

• Hospitals and reference laboratories

• Blood banks

## Products

• Fluorescence-activated cell sorters and analyzers

• Monoclonal antibodies and kits for cell analysis

• Reagent systems for life science research

• Cell imaging systems

• Laboratory products for tissue culture and fluid handling

• Cell culture media and supplements for biopharmaceutical manufacturing






# Dear Fellow Shareholders:



Edward J. Ludwig
Chairman of the Board

Vincent A. Forlenza
Chief Executive Officer
and President

BD again produced solid results in an increasingly challenging global healthcare environment in fiscal year 2011. Reported earnings exceeded our original goals for the 11 \( ^{th} \)  consecutive year, and we returned more than 1.8 billion in cash to shareholders as we implemented a 1.5 billion share repurchase and increased our dividend for the 39 \( ^{th} \)  consecutive year. We also continued to build for the future by investing 476 million in R&D and 515 million in capital to drive our strategy.

As we shared with you last year and throughout 2011, macroeconomic trends in the United States and Europe continue to be challenging. We also largely overcame the negative effects of the March 2011 earthquake and tsunami in Japan due in large part to the outstanding efforts of our associates there. Despite these challenging realities, underlying revenue growth, on a currency-neutral basis, was about 5 percent, adjusting for flu-, stimulus- and supplemental spending-related revenues in 2010 that did not repeat in 2011.* We achieved strong growth in our emerging markets, and our Diabetes Care, Diagnostic Systems and Cell Analysis units delivered solid results.
It is prudent to expect the challenging environment to persist throughout fiscal year 2012, and we are working to control manufacturing and G&A costs as we continue to invest in emerging market infrastructure and innovation to drive future growth. We will continue to make good use of our strong balance sheet to fund strategic investments while returning cash to shareholders. Yes, the current environment is challenging; however, BD is well positioned and capable of addressing many fundamental unmet needs of our customers.



To watch a video of Edward J. Ludwig and Vincent A. Forlenza discussing 2011 at BD, scan the QR code or visit www.bd.com/ar11.



## Key Strategic Developments

This year, we made two strategic acquisitions. In March, we acquired Accuri Cytometers, Inc., which is dedicated to the manufacture of affordable, personal flow cytometers for researchers. Making flow cytometry more accessible to a wider audience of scientists and clinicians is an important driver of the BD Biosciences growth strategy. With its small footprint, ease of use and affordable price, the BD Accuri flow cytometer enables the adoption of flow by researchers studying a wide range of scientific disciplines that have not traditionally used flow cytometry, such as environmental studies.

We continued to invest in R&D, our key product launches remained on track, and each of our three segments contributed to the Company’s pipeline progress.
In August, we acquired Carmel Pharma AB, a Swedish company that manufactures the BD PhaSeal System, a closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. This acquisition expands the scope of BD’s decades-long commitment to healthcare worker safety to include hazardous drug exposure reduction. Cancer incidence and treatment are growing in all

parts of the world, and current practices do not adequately protect healthcare workers from exposure to toxic cancer therapeutics. This acquisition enables our Medical Surgical Systems unit to enter an early-stage market with significant long-term growth potential.

Additionally, in 2011, we continued to invest in R&D, our key product launches remained on track, and each of our three segments contributed to the Company's pipeline progress. For example, our Diabetes Care unit launched the BD AutoShield Duo Pen Needle, a next-generation, safety-engineered product designed to protect healthcare workers automatically from needlestick injuries and blood exposure at both the front and back ends of the needle. Our Diagnostic Systems unit launched the BD MAX System, the first cost-effective and fully automated, bench-top molecular system designed to perform a broad range of molecular tests. And, our Cell Analysis unit launched the BD FACSVerse Flow Cytometer, a flexible, reliable and scalable system that can analyze up to 10 parameters and support a wide range of research applications.

Revenue from new products in fiscal year 2011 comprised about 8 percent of total revenues. Our current product pipeline is the most robust in the Company’s history, and we have plans to launch more innovative products across our segments through fiscal years 2012 and 2013. These products will help address healthcare needs in areas including diabetes, cancer, chronic and infectious diseases, and HIV/AIDS, among others.

## Emerging Markets

Emerging countries continue to invest in their health systems, and BD is well positioned to support their overall health goals through our experience and capability in areas including infectious disease diagnosis and infection control, immune system monitoring, and non-communicable diseases such as cervical cancer and diabetes. In 2011, our emerging market revenues grew approximately 11 percent over the prior year on a currency-neutral basis, adjusting for flu-related revenues in 2010 that did not repeat in 2011.* We are building a long-term business model for sustained growth through our continued accelerated investment in geographic expansion, policy and market development, and local manufacturing. Additionally, we are investing in R&D for market-appropriate product solutions, and we plan to expand R&D in the Asia Pacific region, including new capabilities in China and India.

## Operating Effectiveness

This year, we made excellent progress on EVEREST, our enterprise resource planning program, which will provide the foundation for global, common work processes and refresh technology to drive operating effectiveness and improve service excellence to customers. The initial sites are well prepared for implementation of the new system in the spring of 2012, and we are on track to complete the program early in fiscal year 2014.

We have also successfully implemented our ReLoCo (Reliable Low Cost) program in our Medical Surgical Systems unit, and we expect to realize savings of approximately $50 million by fiscal year 2013. We are currently ramping up a ReLoCo II program, applying the same principles, knowledge and skills more broadly to enable us to generate incremental savings in fiscal year 2014 and beyond.



## Financial Performance

Reported BD revenues of $7.8 billion in fiscal year 2011 represented an increase of 6.2 percent over fiscal year 2010. Reported diluted earnings per share from continuing operations were $5.59, representing an increase of 14.1 percent over the prior year. Our financial position remains strong, with cash flows from operating activities totaling $1.7 billion in fiscal year 2011.

BD Medical revenues increased by 5.6 percent over fiscal year 2010 to $4.0 billion, or 4.5 percent on an adjusted basis.* Revenue growth reflected strong sales of Diabetes Care and international safety-engineered products. Revenue growth in the Diabetes Care unit resulted primarily from continued strong growth in worldwide pen needle sales.

BD Diagnostics revenues increased by 7.0 percent over fiscal year 2010 to $2.5 billion, or 4.5 percent on an adjusted basis.* Revenues reflected solid growth in both the Women's Health and Cancer and the Infectious Disease product offerings within the Diagnostic Systems unit and solid growth of safety-engineered products in Preanalytical Systems.

BD Biosciences revenues increased by 6.7 percent over fiscal year 2010 to $1.3 billion, or 6.8 percent on an adjusted basis.* Revenues reflected strong growth primarily driven by instrument and reagent sales in the Cell Analysis unit combined with double-digit growth in the Advanced Bioprocessing platform.



## Social Responsibility

In 2011, BD continued our long-standing commitment to aiding disaster relief efforts around the world. For example:

» Haiti: One year after the massive earthquake, we sent 15 BD associate volunteers to Haiti to help improve conditions and provide critical care. Collaborating with nonprofit partners Heart to Heart International and Partners In Health, the BD Volunteer Service Trip participants have been instrumental in the country’s ongoing recovery phase, with another trip planned for 2012. BD has also committed $1 million in cash and product to GHESKIO Medical Center in Port-au-Prince. The Center, which is associated with Weill Cornell Medical College, will use the funds to establish a tuberculosis hospital.

» Japan: In response to the March earthquake and tsunami, BD donated $325,000 to assist relief and recovery efforts. The Company also matched donations from our associates worldwide to the American Red Cross and U.S. Fund for UNICEF.

» Australia and New Zealand: BD supported relief efforts in the wake of a three-month period of massive flooding in several regions of Queensland, Australia, and a 6.6 magnitude earthquake that devastated the areas in and around Christchurch, New Zealand.

» United States: BD donated $100,000 to the American Red Cross when the Mississippi River caused widespread flooding in many states. This donation also assisted victims of the tornado that struck Missouri in May. In August, BD committed $130,000 to aid victims of Hurricane Irene and the ensuing floods in the Northeast.

BD assumed leadership roles in two important women's health and cancer initiatives this year. On February 4, 2011 – World Cancer Day – BD joined the National Cancer Coalition to announce the implementation of a cervical cancer early detection program to benefit 75,000 underserved women in Peru. With a goal to reduce the high cervical cancer mortality levels in the mountainous region surrounding Cusco, BD is committing more than $1 million to support this three-year initiative at CerviCusco Clinic. Our support includes donations of BD SurePath Pap liquid-based cytology exams, corresponding consumables, services, technical expertise and $150,000 in financial support.



Additionally, BD was one of the first companies to commit to Pink Ribbon Red Ribbon \( ^{SM} \) , an innovative public-private partnership launched in September 2011 that leverages public and private investments in global health to combat cervical and breast cancer in developing nations in Sub-Saharan Africa and Latin America. The initiative is led by the George W. Bush Institute, the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), Susan G. Komen for the Cure, and the Joint United Nations Programme on HIV/AIDS (UNAIDS).

## Environmental Performance

Our environmental sustainability strategy continues to focus on sustainable operations and product stewardship. This year, we made notable progress in our strategy, meeting three of our 2015 sustainable operations targets. We have increased renewable energy in our operations to 26 percent of our total, helping to reduce our greenhouse gas emissions by 22 percent since 2008. We have also decreased water consumption by 26 percent and hazardous waste by 59 percent, indexed to cost of goods sold since 2008, through a focus on conservation and process improvements at our sites. We now have six LEED \( ^{®} \)  Certified facilities, including a Gold Certification in 2011 for BD’s new office and training facility in Heidelberg, Germany.

Additionally, in 2010, BD began an initiative to reduce manufacturing waste by increasing reuse and recycling. To date, eight of our manufacturing sites in the United States have achieved BD’s “landfill-free” designation, certifying
This year, we made notable progress in our sustainability strategy, meeting three of our 2015 sustainable operations targets.
that more than 90 percent of their total plant waste stream and 94 percent of their manufacturing-related waste is diverted from landfill and recycled.

In the U.S., we introduced the BD ecoFinity Life Cycle Solution, in collaboration with Waste Management. This program safely treats and recovers materials from a hospital’s sharps waste stream and incorporates the recycled plastic into new BD Recykleen collectors. We also introduced the BD Emerald Syringe portfolio that was designed to optimize

material use, resulting in up to 30 percent less material than similar syringes. We invite you to read more about our commitment in BD’s Sustainability Report at www.bd.com/sustainability.

## Key Board Developments

On October 1, 2011, BD President Vincent Forlenza assumed the role of Chief Executive Officer as well, the result of an orderly succession process that had been underway for a number of years. Edward Ludwig will continue to serve as executive Chairman of the Board until his planned retirement from BD in June 2012. (See sidebar on page 5.)

We would like to express our deep appreciation to Cathy E. Minehan for her many contributions to our success during her four years of service to the Board. Ms. Minehan will step down from the Board after our Annual Meeting of Shareholders in January 2012. We have valued her financial and economic insight and expertise. We wish her all the best in her future endeavors.

 \( ^{*} \) Reconciliation of reported to adjusted revenue growth

<table><tr><td></td><td>Total Company</td><td>Emerging Markets</td><td>BD Medical</td><td>BD Diagnostics</td><td>BD Biosciences</td></tr><tr><td>Reported revenue growth</td><td>6.2%</td><td>15.3%</td><td>5.6%</td><td>7.0%</td><td>6.7%</td></tr><tr><td>Less: Foreign exchange impact</td><td>3.3%</td><td>5.2%</td><td>3.3%</td><td>3.1%</td><td>3.5%</td></tr><tr><td>Add: Flu and stimulus impact</td><td>2.0%</td><td>1.0%</td><td>2.2%</td><td>0.6%</td><td>3.6%</td></tr><tr><td>Adjusted revenue growth \( ^{1} \)</td><td>4.9%</td><td>11.1%</td><td>4.5%</td><td>4.5%</td><td>6.8%</td></tr></table>

 \( ^{1} \) Represents fiscal year 2011 revenue growth adjusted for foreign exchange impact as well as for the impact of sales related to pandemic flu, stimulus spending in the U.S., and supplemental spending in Japan that were included in fiscal year 2010 revenues.



## In Closing

It is a privilege to lead a company that pursues a noble purpose – “Helping all people live healthy lives” – and that also has at the heart of its purpose the ideal of societal shared value creation. We believe that societal needs – not just conventional economic needs – define markets. Our patients and customers need value beyond our products; they need the kinds of clinical knowledge and support that BD, perhaps uniquely, is able to provide. The ability to make a difference for both society and our business truly motivates us.

Through collaborations with leading health and nongovernmental organizations, our focus on sustainability and environmental stewardship, our volunteer service trips and our programs encouraging healthy lifestyles among our 29,000 associates, we are broadening our approach to products, markets, services, productivity and associate engagement. This results not only in higher shared value, but also in higher shareholder value.

So, in closing, we thank you, our shareholders, partners, customers and associates, for your ongoing trust and support. We are committed to continuing to serve you, and we believe that, despite the challenging times, we are pursuing the right strategy to ensure our ongoing success.



Edward J. Ludwig
Chairman of the Board

Vincent A. Forlenza
Chief Executive Officer
and President

## Best-in-Class Succession Achievement

## A Message from Ed Ludwig

It is a true pleasure to welcome Vince Forlenza as my successor as Chief Executive Officer, effective October 1, 2011. Vince’s election is the culmination of a careful process conducted with my full support by our Board, which believes that a well-thought-out succession plan is a hallmark of strong management and good corporate governance. The succession planning process began several years ago, and proceeded with Vince’s appointment as President in January 2009 and additional appointment as Chief Operating Officer in July 2010.

Over the last 30 years, Vince has distinguished himself as a leader. He has an outstanding track record running businesses, international operations, technology and business development. He is eminently qualified to lead BD to the next level as the Company continues its journey to greatness. I look forward to continuing to work with Vince in my role as Chairman of the Board through June 2012, and I wish him all the best as he embarks on this exciting new chapter in the Company’s story.

## A Message from Vince Forlenza

I am honored to succeed my close colleague, Ed Ludwig, as Chief Executive Officer. I am also humbled at becoming just the eighth leader in the Company’s 114-year history. As I look forward, I am most excited about the many great opportunities that BD has to become even more impactful as a global healthcare company for both developed and emerging countries.

I have had the privilege of working with Ed for 28 years, beginning when he was Director of Corporate Planning and I was Assistant Director of Corporate Development. During his tenure as CEO, Ed has led the Company through both prosperous and challenging times, always ensuring that we maintained our purpose of “Helping all people live healthy lives.” He has ensured that BD continues to deliver value to shareholders, customers and patients worldwide, and he has done so with the utmost integrity and the highest ethical regard, in line with BD’s Core Values. On behalf of BD’s 29,000 associates, I sincerely thank and commend Ed for his outstanding leadership, vision and dedication to BD.


















Aon Hewitt
Best Employers
in INDIA 2011





## 2011 Awards, Recognitions and Affiliations

## Corporate Citizenship

» FTSE4Good Index, since 2003

» Dow Jones Sustainability World Index, since 2006

» Dow Jones Sustainability North American Index, since 2005

» World’s Most Ethical Companies — Ethisphere Council, since inaugural year in 2007

» World’s Most Admired Companies — FORTUNE, since 2002

## Environment, Health and Safety

» Green Rankings — Newsweek

» EPA Green Power Partnership — Leadership Club — United States

» CEO Cancer Gold Standard™ Accreditation — CEO Roundtable on Cancer

» Best Employers for Healthy Lifestyles — National Business Group on Health — United States

» Waste Reduction, Recycling, and Reuse Sustainable Business Award — BD facilities in Columbus, NE — WasteCap Nebraska

## Innovation

» Medical Design Excellence Award — BD Pegasus Safety Closed IV Catheter System

» The Patent Scorecard™ Top 50 in Medical Devices & Services Industry — The Patent Board™

## Employer of Choice

» Employer of Choice for Women in Australia — Equal Opportunity for Women in the Workplace

» Best Places to Work in New Jersey — NJBIZ

» Best Places to Work in Baltimore — Baltimore Magazine

» BEST Employers™ South Africa — Corporate Research Foundation Institute

» TOP JOB Award — Top Employers in Germany

» Best Employers in India — Aon Hewitt Associates



## Corporate Information

Annual Meeting
Tuesday, January 31, 2012 – 1:00 p.m.
Hilton Short Hills
41 John F. Kennedy Parkway
Short Hills, NJ 07078

This annual report is not a solicitation of proxies.

Transfer Agent and Registrar
Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021
Phone: 1-877-498-8861
International: 1-781-575-2726
Internet: www.computershare.com

## Direct Stock Purchase Plan

The Direct Stock Purchase Plan established through Computershare Trust Company, N.A., enhances the services provided to existing shareholders and facilitates initial investments in BD shares. Plan documentation and additional information may be obtained by calling Computershare Trust Company, N.A., at 1-877-498-8861, or by accessing the "Buy Shares" feature located within the Investor Centre of Computershare's website at www.computershare.com.

## NYSE Symbol: BDX

Independent Auditors
Ernst & Young LLP
5 Times Square
New York, NY 10036-6530
Phone: 1-212-773-3000
Internet: www.ey.com

## Shareholder Information

At November 9, 2011, BD had 8,665 shareholders of record. BD's Statement of Corporate Governance Principles, BD's Business Conduct and Compliance Guide, the charters of BD's Committees of the Board of Directors, BD's reports and statements filed with or furnished to the Securities and Exchange Commission and other information are posted on BD's website at www.bd.com/investors.

Shareholders may receive, without charge, printed copies of these documents, including BD’s 2011 Annual Report on Form 10-K, by contacting:
Investor Relations
BD
1 Becton Drive
Franklin Lakes, NJ 07417-1880
Phone: 1-800-284-6845
Internet: www.bd.com

The trademarks indicated by italics are the property of Becton, Dickinson and Company, its subsidiaries or related companies. © 2011 BD

All other brands and logos represented herein are trademarks of their respective owners.

The graph below presents a comparison of cumulative total return to shareholders for the five-year period ended September 30, 2011 for BD, the S&P 500 Index and the S&P 500 Health Care Equipment Index.

Cumulative total return to shareholders is measured by dividing total dividends (assuming dividend reinvestment) plus per share price change for the period by the share price at the beginning of the measurement period. BD’s cumulative shareholder return is based on an investment of $100 on September 30, 2006 and is compared to the cumulative total return of the S&P 500 Index and the S&P 500 Health Care Equipment Index over the same period with a like amount invested.

COMPARISON OF 5-YEAR CUMULATIVE TOTAL RETURN AMONG BECTON, DICKINSON AND COMPANY, THE S&P 500 INDEX, AND THE S&P 500 HEALTH CARE EQUIPMENT INDEX*



 \( ^{*} \) Source: Standard & Poor's



## Corporate Officers

Edward J. Ludwig
Chairman of the Board

Vincent A. Forlenza
Chief Executive Officer
and President

Richard K. Berman
Vice President and Treasurer

Pierre Boisier
Senior Vice President, Quality

Donna M. Boles
Senior Vice President,
Human Resources

Scott P. Bruder, M.D., Ph.D.
Senior Vice President and
Chief Science and Technology Officer

Gary M. Cohen
Executive Vice President

## Board of Directors

Basil L. Anderson \( ^{1,2,4} \) 
Retired Vice Chairman — Staples, Inc.

Henry P. Becton, Jr. \( ^{3,4,5} \) 
Vice Chairman and former President —
WGBH Educational Foundation

Edward F. DeGraan \( ^{2,3,4} \) 
Retired Vice Chairman — Gillette
Procter & Gamble Company

Vincent A. Forlenza
Chief Executive Officer and President

Claire M. Fraser-Liggett, Ph.D. \( ^{3,5} \) 
Director — Institute of Genome
Sciences, University of Maryland
School of Medicine

Christopher Jones \( ^{1,5} \) 
Retired Chief Executive Officer —
JWT Worldwide

Gary M. DeFazio
Vice President and
Corporate Secretary

David T. Durack, M.D., D.Phil.
Senior Vice President,
Corporate Medical Affairs

David V. Elkins
Executive Vice President
and Chief Financial Officer

David W. Highet
Vice President and
Chief Intellectual Property Counsel

William A. Kozy
Executive Vice President

Richard J. Naples
Senior Vice President,
Regulatory Affairs

Marshall O. Larsen \( ^{1,2} \) 
Chairman, President and
Chief Executive Officer —
Goodrich Corporation

Edward J. Ludwig \( ^{4} \) 
Chairman of the Board

Adel A. F. Mahmoud, M.D., Ph.D. \( ^{3,5} \) 
Professor, Department of Molecular
Biology and the Woodrow Wilson
School of Public and International
Affairs — Princeton University

Gary A. Mecklenburg \( ^{1,5} \) 
Retired President and
Chief Executive Officer —
Northwestern Memorial HealthCare

Cathy E. Minehan \( ^{5} \) 
Retired President and Chief Executive
Officer — Federal Reserve Bank
of Boston

William E. Rhodes
Senior Vice President,
Corporate Strategy and Development

Patti E. Russell
Vice President and Chief Ethics
and Compliance Officer

Antoinette F. Segreto
Vice President, Tax

Nabil Shabshab
Senior Vice President and
Chief Marketing Officer

Stephen Sichak, Jr.
Senior Vice President,
Integrated Supply Chain

Jeffrey S. Sherman
Senior Vice President and
General Counsel

Suketu Upadhyay
Senior Vice President and Controller

James F. Orr \( ^{1,2,4} \) 
Retired Chairman and Chief Executive
Officer — Convergys Corporation

Willard J. Overlock, Jr. \( ^{2,3,4} \) 
Retired Partner — Goldman, Sachs & Co.

Bertram L. Scott \( ^{1,2} \) 
President, U.S. Commercial —
CIGNA Corporation

Alfred Sommer, M.D., M.H.S. \( ^{3,4,5} \) 
Professor of International Health,
Epidemiology and Ophthalmology —
Johns Hopkins University Medical
School and Bloomberg School of
Public Health

Committees appointed by the Board of Directors
1—Audit Committee
2—Compensation and Benefits Committee
3—Corporate Governance and Nominating Committee
4—Executive Committee
5—Science, Innovation and Technology Committee




1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com