Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. Pharma. 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. "We can do genomic sequencing, and at the same time with large data sets, utilize AI and machine learning to create patterns in which we can correlate diseases with genomic profiling, to identify what are going to be the underpinnings of diseases that are going to be the triggers, the targets that we are going to be able to utilize in our discovery," Duato said. (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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. He was also appointed to the companys board of directors. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. 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. As a global company, we were already working around the world, but the pandemic pushed us to leverage our deep scientific expertise and extensive partnerships to take on this challenge. J&J declined to make Gorsky and Duato available for comment. 1, Duato told CNBC's Meg Tirrell at Healthy Returns on Wednesday, is the opportunity "to create more progress in health in this decade than we have seen in the last 100 years.". Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. Offers may be subject to change without notice. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&Js drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become the powerhouse that it is today. 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. Why? Previously, Joaquin served as the Vice Chairman of the . We believe we have a responsibility to step in and invest in solutions for global public health crises, and we are proud to be contributing to the global COVID-19 response. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. 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. Gorsky also started his J&J career over three decades ago as a sales representative with Janssen Pharmaceuticals in 1988, and had been at the helm of the company for nearly a decade. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 8 Enthusiasm for getting the COVID-19 vaccine continues to grow among people across racial and ethnic backgrounds, with the largest increase among Black adults. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. [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. 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. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. Over the last three decades, Alexs influence has truly shaped the global healthcare landscape and improved billions of lives, said Anne Mulcahy, Lead Independent Director. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. 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. 2. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. I also want to thank Alex for his countless contributions to our Company. Got a confidential news tip? Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. It is extremely important for us to collaborate worldwide to help combat this disease. Duato is trilingual, speaking English, Spanish, and Italian. LL: What was the basis for J&J to pursue emergency use authorization? [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. People on the Move: Chris Womack, CEO, Southern Company, People on the Move: CVS Names Shari Slate as SVP, Chief Diversity, Equity and Inclusion Officer, People on the Move: Tarbinlam Lafon, VP, Chief Procurement Officer, Humana, People on the Move: Alice H. Chen, Centenes Chief Health Officer, Women Executives Advice on Changing Up Workplace Demographics. A believer in the power of technology to accelerate progress in healthcare, Joaquin is leading Johnson & Johnson to harness data science and intelligent automation to solve the worlds toughest health challenges. FORTUNE may receive compensation for some links to products and services on this website. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. In his first interview as Johnson & Johnson CEO, Joaquin Duato says at CNBC's Healthy Returns that there will be more innovation in health care over the next ten years than in the past century. JD: The virus does not recognize borders. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. Presenting a business case for devoting extensive time and resources to mentoring is a trickier task but one that Joaquin Duato, this years Healthcare Businesswomens Association Honorable Mentor honoree and EVP, worldwide chairman, pharmaceuticals at Johnson & Johnson, accomplishes with uncanny ease. You should view the News section and the most recent SEC Filings in the Investor section in order to receive the most current information made available by Johnson & Johnson Services, Inc. REGISTER BELOW, Why Johnson & Johnson is splitting itself into two publicly traded companies, How AI is detecting heart attack risk and aiming to outsmart Americas No. (18 votes) Very easy. 08.23.21. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Jan 26, 2023 11:12am. Yet Duato plotted to rid itof itsconsumer-products legacy. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. 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. 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. JD: Johnson & Johnson has been committed to combatting this pandemic from the beginning, in fact, we announced in January 2020 that we were leveraging our innovative vaccine technology platform to help fight COVID-19. As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnsons opportunity to play a key role in meaningfully improving the global trajectory of human health, he said. He lives in Pennsylvania with his wife and has two grown children. Gorsky, whos been at the helm for nine years, will become executive chairman. 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. We know that Joaquin is single at this point. 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. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. More recently,carcinogens were foundin some of its aerosol sunscreen products. #jnj #mycompany #data #innovation To hear Duato tell it, one of the most underrated components of mentorship is amplification. JD: Throughout our more than 130-year history, Johnson & Johnson has had a legacy of coming to the aid of communities during times of crisis from natural disasters to health outbreaks. [4][5] He also served as interim Chief Information Officer. Johnson & Johnson on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the remainder of the coronavirus pandemic. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. LinkedIn has officially entered its cringe era, and its working. we must have a workforce that generally reflects that ethnic and . (Podcast). CVS and Walgreens confirmed last month that their pharmacies were limiting the. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Contact Us with any questions or search this site for more information. Terms & Conditions. In September 2020, Janssen signed the vaccine maker pledgeto promise the public that decisions around the potential use of our vaccine candidate will be based purely on science and pre-existing guidelines from health authorities around the world. It has been an honor and privilege to lead this company as Chairman and CEO for nearly a decade, and I am pleased to serve as Executive Chairman to help oversee Johnson & Johnsons ongoing progress in improving the health of people and communities everywhere, Gorsky said in a statement. 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. Chairman of the Board and Chief Executive Officer. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. "For the consumer health company, it's going to be an opportunity to deepen the relationships with consumers to attract new investors, to inspire employees, and to be able to have a fit-for-purpose model with their own capital location priorities and then for the new Johnson & Johnson it is going to be an opportunity to be more focused, more competitive and to deliver increased growth," Duato said. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. by Caroline Vakil - 08/19/21 7:18 PM ET. Maya Tsukernik you are amazing, congratulations on a great job!!! He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. A dual citizen of both Spain and the U.S. and the current executive sponsor of Johnson & Johnsons African Ancestry Leadership Council, he assures that going forward, the company will remain committed to diverse thoughts and opinions under his leadership. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. The site youre being redirected to is a branded pharmaceutical website. 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Duato is the only major health industry CEO who has served as chief information officer. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Duato received a Master of Business Administration from ESADE Business School in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona. 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. Pronunciation of Joaquin Duato with 4 audio pronunciations. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. Duato will also be appointed as a member of the company's Board of Directors. Mr. Duato JNJ stock SEC Form 4 insiders trading. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. Any forward-looking statement made in this release speaks only as of the date of this release. 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. Create your free account or log in to continue reading this premium content. 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. He started at the company in 1989, working in sales in his home country of Spain. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. 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.. Mr. Duato, age 59, is currently Vice Chairman of the Company's Executive Committee and provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. 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. Joaquin Duato is surrounded by relics of the past. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. 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. 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. 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. On this Wikipedia the language links are at the top of the page across from the article title. We have to make specific outreach to women on the STEM side. Nonetheless, investor goodwill remains strong in the company. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. The site youre being redirected to is a branded pharmaceutical website. All Rights Reserved. Before becoming CEO in 2022, Joaquin served as Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceuticals and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. That is why I believe. 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. 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. Aug 19 (Reuters) - Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. The vaccine technology platform was designed to help the global health community better prepare for and combat life threatening infectious disease outbreaks and aided in the accelerated development of vaccines. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. 1. Duato, the first non-U.S. born CEO for the company, and first to hold dual citizenship (Spain and U.S.), has been with J&J for three decades and was at one point the company's chief information. As a member of the Company for more than 30 years, Joaquin was named Company Group Chairman of the Americas in 2009 and Executive Vice President and Worldwide Chairman, Pharmaceuticals in 2011. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. All Rights Reserved. Joaquin Duato, who led J&J's pharmaceuticals business before becoming a Gorsky deputy, will become chief executive and join the company's board of directors. He spent nearly a decade as executive sponsor for the African Ancestry Leadership Council employee resource group and is committed to building an inclusive workforce that reflects the patients J&J serves. Gorsky, the . by Joaquin Duato, vice chairman of the executive committee, Johnson & Johnson Editor's note: These views and opinions do not reflect those of Deloitte or its personnel. New Brunswick, N.J., November 30, 2022 Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has elected Chief Executive Officer, Mr. Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. In his place, Joaquin Duato, the companys current Executive Committee Vice Chairman, will become the companys new CEO and a member of the companys Board of Directors. 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