As CEO of the world's largest healthcare company, Joaquin leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. As J&J prepares to split into two companies, Duato said that separating the consumer brands like Band-Aid, Tylenol, Neutrogena and Listerine from medical technology and pharmaceuticals will help the company be at the forefront of surgical techniques that transform health care. Joaquin Duato is best known for driving the transformation of Johnson & Johnsons Pharmaceutical sector into a global powerhouse by refocusing strategy and investment around core therapeutic areas with the greatest potential for business growth and impact on human health. Terms & Conditions. We saw a tectonic shift as slow-moving trends went into overdrive. Gorsky is leaving his successor with a pile of lawsuits and controversy on the desk: The company recently reached a landmarksettlementover its alleged role in the epidemic of opioid overdoses, but additional suits remain related to its talcum-based baby powder, as well as other drugs and devices. Joaquin Duato Johnson & Johnson Top 10% A 79/100 VS Dirk van de Put Mondelez International Top 15% A- 77/100 Johnson & Johnson vs Mondelez International CEO Comparison Summary Employees at Johnson & Johnson rank Joaquin Duato in the Top 10% of CEOs in New York. Moderate. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. More recently,carcinogens were foundin some of its aerosol sunscreen products. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. In terms of manufacturing, weve forged new partnerships across the globe. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. That diversity gets us closer to our customer base, Duato points out. Alex Gorsky to Step Down After 30-Year Career at Johnson & Johnson, Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. At Johnson & Johnson, were mobilizing to support organizations that meet underrepresented communities where they are and engage at the grassroots level by involving respected elected representatives, trusted local and national faith leaders, community advocates, and other national and local organizations. If Johnson & Johnsons pharma group were a stand-alone company, it would likely rank as either the fifth- or sixth-largest pharma organization in the world. In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. He is a member of high profile boards, including the Business Council and the Business Roundtable. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information, Americans ineligible for COVID booster shots are already. Pharmaceutical Companies of Johnson & Johnson, Reimagining the Way Healthcare Is Delivered, Meeting the Personal Care and Wellness Needs of Consumers Worldwide, Advancing New Healthcare Solutions Through Collaboration, Learn About the Company's Rich Heritage at Our Digital Museum. His career in healthcare was influenced by his family. You dont have to try too hard to make a human case for mentoring. See here for a complete list of exchanges and delays. When the COVID-19 pandemic began he oversaw the Companys rapid response to the crisis and drove coordination of global initiatives to safeguard the health of employees, ensure business and supply chain continuity, and accelerate the development of a COVID-19 vaccine. They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . Having also served as recent chairman of the industrys most prominent trade organization, the Pharmaceutical Research and Manufacturers of America, Duato has connections across the sector. Chairman of the Board and Chief Executive Officer. Duato, 59, will take the role effective Jan. 3 when he will also take a seat on the company's board, J&J said in a statement late Thursday. Joaquin Duato. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. (18 votes) Very easy. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. He worked his way through a host of regional leadership roles in Spain, Italy, and elsewhere and logged some time leading the companys diagnostic division. In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Companys business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year. According to a recent Kaiser Family Foundation study, 75% of Hispanic adults trust their healthcare provider to give them reliable information about the available vaccines. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. He started at the company in 1989, working in sales in his home country of Spain. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. Sign up for free newsletters and get more CNBC delivered to your inbox. Duato will also be appointed as a member of the company's Board of Directors. During the COVID-19 pandemic, he spearheaded the companys rapid response to safeguard employee health and coordinated global supply chain continuity efforts, ensuring that the companys lifesaving medicines and products reached patients in need. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. In his current role, he provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. Now its a museum parading J&Js 136-year heritage. Duato is committed to nurturing a diverse, equitable and inclusive workplace as J&J continues to develop medicines to transform the lives of patients around the world. Recent surveys show Black and Hispanic adults are more likely to take a wait and see approach to getting a COVID-19 vaccine, but are also as likely as white adults to say they definitely will not take one. As Vice Chairman of the Executive Committee, he provides . With these additions to our global manufacturing network, we are committed to delivering 100 million single-shot doses of our COVID-19 vaccine to the U.S. government, and delivering 200 million doses to the European Union, Norway and Iceland. On the edge of Johnson & Johnsons New Brunswick, New Jersey campus, Duato is giving his first sit-down interview from within the companys oldest building, which once produced energy for its factories. Offers may be subject to change without notice. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Joaquin Duato is surrounded by relics of the past. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Alex Gorsky will step down as chief executive of Johnson & Johnson in January, ceding the role to longtime company executive Joaquin Duato, the health care giant announced Thursday. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. Please see our Privacy Policy. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. "Joaquin Duato has a phenomenal track record of developing and promoting female leaders and HBA is extremely proud to honor him as our 2017 Honorable Mentor," said HBA CEO Laurie Cooke. Educating physicians and investigators and working with diverse clinical trial personnel. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. See here for a complete list of exchanges and delays. J&J ranks No. Wow, what an awesome event with such wonderful people! LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. Under his leadership, scientific expertise combined with AI and machine learning is accelerating how Johnson & Johnson confronts the most complex healthcare challenges and delivers for patients. Gorsky, whos been at the helm for nine years, will become executive chairman. I can trace the most important turning points in my career like moving from Europe to the U.S., or moving from pharma into medical devices to having a strong female mentor who supported me, he says. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? All Rights Reserved. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. About 64% of Hispanic adults now say theyve either gotten at least one dose of the vaccine or will get it as soon as they can. Nov 30 (Reuters) - Johnson & Johnson (JNJ.N) said on Wednesday its board has elected Chief Executive Officer Joaquin Duato to take on the additional role of Chairman, effective in January.. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Duato has dual citizenship between the U.S. and Spain, and is involved with boards such as UNICEF USA, Tsinghua University School of Pharmaceutical Sciences and the Hess Corporation, is past. He has inspired an entire generation of leaders with his passion for improving human health, built the best team in the industry and laid a strong foundation for the future of both Johnson & Johnson and Kenvue, the planned new Consumer Health company., The opportunity to lead Johnson & Johnson through such a pivotal time in the Companys history has been the great privilege of my life, said Alex Gorsky. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Contact Us with any questions or search this site for more information. Nov 30 (Reuters) - Johnson & Johnson (JNJ.N)said on Wednesday its board has elected Chief Executive Officer Joaquin Duato to take on the additional role of Chairman, effective in January. Pronunciation of Joaquin Duato with 4 audio pronunciations. Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. JD: We are a proud supporter of the National Hispanic Medical Association (NHMA) Vaccinate 4 All program that will train and support a cadre of physician leaders around the country to speak with local, regional and national media. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. About Alex GorskyAlex Gorsky is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, one of just seven leaders who have served in the dual role since the company was listed on the New York Stock Exchange in 1944. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. LL: What was the basis for J&J to pursue emergency use authorization? Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Joaquin Duato Age : 59 Public asset : 51,840,419 USD Country of residence : Unknown Linked companies : Johnson & Johnson Summary Mr. Joaquin Duato is a Chairman & Chief Executive Officer at Johnson & Johnson. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Gorsky said Duato oversaw Johnson & Johnsons response to the COVID-19 pandemic and led the coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity.. We want to hear from you. Your use of the information on this site is subject to the terms of our Legal Notice. That was a better performance than rival drugmakers Pfizer Inc. and Merck & Co., though health-care investors who opted for high-flying biotech stocks did better the Nasdaq Biotechnology Index quadrupled in that span. "Mr. Duato's international . The shot is still seen as important to fighting the pandemic, and J&J is working to ramp up supply through the end of the year. The current economic situation is "volatile," Duato said, with inflationary headwinds in the supply chain and availability of important raw materials and components, though he said the company's scale as the largest health-care firm helps and the guidance it already provided to the market earlier in the year showed a healthy growth rate in revenue and in earnings per share. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [8], Joaquin Duato is a board member of the U.S. Spain Council and previously served on boards with UNICEF USA, Tsinghua University School of Pharmaceutical Sciences, and the Hess Corporation. Pharmaceutical Research and Manufacturers of America, "Next decade will transform health care more than past century: Johnson & Johnson CEO", "J&J's CEO Plans to Step Down. In his current role, he provides strategic direction for the Pharmaceutical and Consumer Health sectors (a $60 billion portfolio) and oversees the Global Supply Chain, Technology and Health & Wellness teams. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Related: For more recent diversity and inclusion news, click here. Jan 26, 2023 09:15am. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Joaquins appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Boards thoughtful and engaged approach to succession planning. AboutPressCopyrightContact. The rules of the past no longer apply after the seismic events of the past three years. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. by Caroline Vakil - 08/19/21 7:18 PM ET. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. JD: The virus does not recognize borders. The site youre being redirected to is a branded pharmaceutical website. But the new chief executive officerisnt interested in artifacts. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. This site is governed solely by applicable U.S. laws and governmental regulations. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. In this podcast, Matt Botkin, SVP, business development (health systems) at Doceree, throws light on how the pharmaceutical industry can leverage technology to address the issue of healthcare affordability. Jan 26, 2023 11:12am. You are now leaving jnj.com. Please click below to continue to that site. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. Gorsky, who has served as CEO and chairman since 2012, will become. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. 3 /5. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. It was solely about personal and professional growth, not about getting the next job. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. You are now leaving jnj.com. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. The disease itself took a disproportionate toll on the Black, Latinx, Indigenous and Pacific Islander communities and it forced us to revisit the way we address and provide equitable care. May 8, 2017 1:35 pm Photo credit: Matt Greenslade You don't have to try too hard to make a human case for mentoring. FORTUNE may receive compensation for some links to products and services on this website. Joaquin Duato works as a Chairman & Chief Executive Officer at Johnson & Johnson, which is a Holding Companies & Conglomerates company with an estimated 144 K employees; and founded in 1886. He lives in Pennsylvania with his wife and has two grown children. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, S&P 500 Slumps to Lowest in Nearly Six Weeks: Markets Wrap, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. "We don't just talk about it," he says. Pharma. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. J&J declined to make Gorsky and Duato available for comment. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Risk Factors, in the Companys most recently filed Quarterly Report on Form 10-Q and the Companys subsequent filings with the Securities and Exchange Commission. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. 4. "We don't just talk about it," he says. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. I would like to express my deep appreciation to every employee, past and present, for their steadfast commitment to bringing our Credo to life every day and to improving the well-being of those who rely on us. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Deloitte does not. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. Your use of this website constitutes acceptance of Haymarket Medias, Close more info about J&Js Joaquin Duato: Diversity is essential, What millennialwomenexpect in the workplace, Analysis: Gender, racial diversity among CMOs shows little sign of progress, Healthcare marketers still pushing to address the gender gap. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter., Mr. Duato said, Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnsons success. Get this delivered to your inbox, and more info about our products and services. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Reducing and/or removing logistical barriers for underrepresented populations. Joaquin Duato Chairman of the Board and Chief Executive Officer New Brunswick, New Jersey, United States 38K followers 500+ connections Join to follow Johnson & Johnson Esade About I believe that. [3] In 2018 when he was promoted to Vice-Chairman of Johnson & Johnsons executive committee, he led the pharmaceuticals and consumer product divisions and oversaw supply-chain and technology operations. The best ideas and solutions happen when people bring their uniqueness to work with them. JD: The healthcare industry has undergone massive change. A Division of NBCUniversal. New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc Hall of Fame company) has announced that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. (Bloomberg) -- Health-care giant Johnson & Johnson named Executive Committee Vice Chairman Joaquin Duato as the company's new chief executive officer, replacing Alex Gorsky, who will become executive chairman. Anne Mulcahy, J&Js lead independent director, said the board engaged in thoughtful long-term succession planning. She described Duato as an effective and committed leader who has been critical to the companys growth. If he doesn't abandontradition for innovation, we will be left behind, he says. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). The healthcare conglomerate is in the middle of the biggest shake-up in its 135-year history, spinning off its consumer health business under the name Kenvue. It's a role that builds on his 33-year career at the company, working across all business sectors and in multiple countries around the globe. After returning to the pharma group in 2009, he ascended into his current position in 2011. Aug 19, 2021 11:00PM EDT. The industry leader for online information for tax, accounting and finance professionals. Duato declined to go into legal specifics. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Duato, who served as interim CIO at Johnson and Johnson for almost a year in 2019, said that role gave him insights into how artificial intelligence and automation can make surgery smarter. Please click below to continue to that site. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. "We can plan much better our clinical trials, we are able to create synthetic control groups instead of having placebo groups and we are also able to stratify and identify patients that are difficult to find in rare diseases utilizing algorithms that enable us to identify them," he said. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". Joaquin Duato 6d Data science and digital health have transformed how Johnson & Johnson innovates, enabling us to bring life-changing science to patients faster than ever. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. 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