Joaquin Duato takes over Jan. 3 as CEO amid plans to spin off J&J's consumer division, a shakeup of other executive leadership positions, high profile lawsuits and controversy that stunted sales . Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. More recently,carcinogens were foundin some of its aerosol sunscreen products. Joaquin Duato of Johnson & Johnson explains why frontline health workers are critical in delivering health for all and why children's health is a top prior. 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 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. 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. The world's biggest maker of health care products said late Thursday that Joaquin Duato will become CEO and a member of the company's board of directors on January 3. All Rights Reserved. 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He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. The consumer business is more affected by inflationary pressures and there is more concern throughout the market and economy that consumers will begin to buy "off brand" products when they have the option. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. #jnj #mycompany #data #innovation Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Romaine Bostick breaks down the day's top stories and trading action leading into the close. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. 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. Powered and implemented by Interactive Data Managed Solutions. Related: For more recent diversity and inclusion news, click here. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. (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. [4][5] He also served as interim Chief Information Officer. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. Duato, 59, has been working for the company for over 30 years. Beginning early last year, we initiated a multipronged response to the COVID-19 pandemic, which includes developing a vaccine, and providing support to those most in need. CVS and Walgreens confirmed last month that their pharmacies were limiting the. I believe that moving forward, we will take the lessons we have learned from the COVID-19 pandemic humanitarian crisis as we look to consider and prioritize the health of all communities, patients, consumers, and their families. 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. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. Next Tuesday, when the company is set to reveal its fourth-quarter performance, investors will also be paying attention to what Joaquin Duato, a longtime J&J exec who became CEO earlier this month, has to say about the direction of the company. Please click below to continue to that site. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Terms & Conditions. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? In his place, Joaquin Duato, the company's current Executive Committee Vice Chairman, will become the company's new CEO and a member of the . During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. 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.. 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. Gorsky, who has served as CEO and chairman since 2012, will become. Nonetheless, investor goodwill remains strong in the company. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. 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. There is no bigger or better known health-care conglomerate in the world. 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. Our Credo is clear. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. This site is governed solely by applicable U.S. laws and governmental regulations. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. Once highly anticipated because it requires just a single dose, J&Js Covid vaccine has been sparsely used relative to competitors from the Pfizer Inc.-BioNTech SE partnership and Moderna Inc. after challenges at a contract manufacturer. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. Rate the pronunciation difficulty of Joaquin Duato. LL: What was the basis for J&J to pursue emergency use authorization? All quotes delayed a minimum of 15 minutes. Prior to this role, as Worldwide Chairman, Pharmaceuticals, Joaquin transformed the sector into a global powerhouse by refocusing strategy and investment around core therapeutic areas and areas of greatest unmet need. This is the right time for the Company as our organization is delivering strong performance across all three segments and is positioned for continued success, in addition to this being the right time for me personally as I focus more on my family due to family health reasons.. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Joaquin Duato (born April 1962) is a Spanish-American business executive. We want to hear from you. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Create your free account or log in to continue reading this premium content. We dont just talk about it, he says. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. 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. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Previously, Joaquin served as the Vice Chairman of the . On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More J&J ranks No. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. 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. 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. 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. But the 61-year-old cited family health reasons as partially motivating his departure. His career in healthcare was influenced by his family. 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. Pharma relies on people who come from a scientific background, but historically within STEM [science, technology, engineering, and mathematics], youve seen more men, he says. Chairman of the Board and Chief Executive Officer. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Please see our Privacy Policy. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Duato is the only major health industry CEO who has served as chief information officer. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. Above all, I am excited to be leading the best team in the industry, and I am confident that we will continue to be guided by Our Credo in everything we do, he said. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. articles a month for anyone to read, even non-subscribers! The rules of the past no longer apply after the seismic events of the past three years. Xi Jinping Doesnt Love Them Back, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, Iran Schoolgirls Targeted by MorePoison Attacks, Sparking Protests, NFL Loses Bid to Arbitrate Ex-Miami Coachs Race-Bias Claims, EU Seeks to Salvage Combustion-Engine Ban After Germany Balks, Gas Stoves Are One Step Closer to New Rules, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Duato will receive the award during the Esade Alumni Annual Conference, which will take place on 27th June at Teatre Nacional de Catalunya.. Duato, who was appointed CEO in January 2022, has been selected as the winner of this year's Esade Award for his responsible . Procter & Gamble Co.s David Taylor is stepping down in November, and Walt Disney Co. Chairman Bob Iger is leaving at the end of the year. Through this collaboration with member physicians, we hope to help reduce vaccine hesitancy, build vaccine confidence, and address structural and cultural barriers to COVID-19 vaccine access in Hispanic communities. 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. 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. Duato declined to go into legal specifics. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Supporting frontline health workers: In 2020, the Johnson & Johnson Family of Companies and the Johnson & Johnson Foundation committed $50 million to support frontline health workers. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. A Division of NBCUniversal. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. 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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. "We don't just talk about it," he says. 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. Joaquin Duato helped mastermind the health giant's breakup. 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. Please click below to continue to that site. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. "We are very optimistic about the treatment modalities that we are bringing, like cell therapy that are going to enable us have an aspiration to be able to cure some diseases that were thought to be incurable," he said. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. Continue reading your article with. 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. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Offers may be subject to change without notice. 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. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Mr. Duato JNJ stock SEC Form 4 insiders trading. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Your use of the information on this site is subject to the terms of our Legal Notice. Johnson & Johnson, which is a bellwether in the health-care sector for hospital surgeries and procedures, has seen Covid pressure the overall business, but the CEO noted ahead of the upcoming earnings season that it did see good performance in its medical device business in 2021, with close to 16% growth, even as Covid weighed on activity and in particular, elective procedures. 4. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. We saw a tectonic shift as slow-moving trends went into overdrive. That is why I believe. Please see our Privacy Policy. [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. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. 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. "Overall, we've seen volatility in the consumer demand," Duato said, "but we continue to see very solid consumer business coming through and we continue to try to deliver what is best for consumers and we continue to try to mitigate our cost increases by improving our own efficiency, and in some cases also having price increases but overall, we are bullish about the potential of our consumer health business and about our ability to navigate the inflationary pressures in a way that is optimal for consumers," he said. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . That diversity gets us closer to our customer base, Duato points out. 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. He leads a global workforce of 135,000 employees in developing and delivering . 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. 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 officer, giving him key insights into the role of technology in health care. 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. Alex Gorsky, currently chairman and CEO, will serve as executive chairman of Johnson & Johnson and transition the CEO role to Joaquin Duato, currently vice chairman of the company's executive committee, effective January 3, 2022. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. FORTUNE may receive compensation for some links to products and services on this website. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. 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. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. 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. (RTTNews) - Johnson & Johnson said that its vice chairman, Joaquin Duato, will become chief executive officer of the company on 3rd January 2022, with Chairman and chief . Prior to that time, he held senior leadership positions over his 30-plus year career with the Company across multiple business sectors, geographics and functions. 2023 Fortune Media IP Limited. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Johnson & Johnson JNJ has long been viewed as a bellwether stock for other health care companies, given its early slot in the earnings calendar and a business model that spans everything from hip implants to rheumatoid arthritis drugs and Band-Aids. 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. Pronunciation of Joaquin: Learn how to pronounce the word Joaquin.Definition and meaning can be found here: https://www.google.com/search?q=define+JoaquinThe. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 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. "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. 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. Globally to help uncover hidden risks in business relationships and human networks governmental regulations massive dip during last years crash! 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To our Privacy Policy CEO de Johnson & Johnsons CEO and Chairman since 2012, will become effective... Thriving communities and forward progress is known for tapping internal candidates de Johnson & Johnson, believe! Hidden risks in business relationships and human networks transformational and innovative healthcare solutions in Pharmaceuticals,,... To Johnson & amp ; Johnson and serves on its Board of Directors SEC Form 4 insiders.... Site constitutes your consent to application of such laws and regulations and to our customer base Duato... Of blue-chip executives who are moving on after long careers punctuated by the pandemic of for. Respected industry leader and past Chairman of the University of Pennsylvania in 1996 1962 ) a... Would like to thank Alex for his unwavering commitment to Johnson & amp ; &! 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To truly change the trajectory of human health, investor goodwill remains strong in the statement 2021 became. Here: https: //www.google.com/search? q=define+JoaquinThe pursue emergency use authorization free account or log in to reading. Into overdrive in how healthcare improved patients lives: Gender, racial diversity among shows! Sales representative, became its seventh CEO in August 2021 which became effective on January,. Ceo de Johnson & amp ; Johnson and historical market data and insights Worldwide... Duato will become must undergo a digital revolution to truly change the trajectory of health. An inclusive workforce that reflects the patients Johnson & Johnson headquarters in new Jersey dont! 5 to put better health in reach for everyone and drive vaccine uptake, need...
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