Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. That diversity gets us closer to our customer base, Duato points out. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . The rules of the past no longer apply after the seismic events of the past three years. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Joaquin Duato. 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. 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. 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. Please click below to continue to that site. Johnson & Johnson has faced multiple lawsuits over products and medical devices, fromtalc to hip replacement and opioids, which have resulted in significant financial settlements, without any admission of wrongdoing, as well as ongoing litigation. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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.. . You are now leaving jnj.com. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. 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. "We understand that we have a reputation. LL: Why is it important to have collaboration among the global public health community in times of crises? Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. (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 . The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. It is extremely important for us to collaborate worldwide to help combat this disease. Got a confidential news tip? 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. Duato will also be appointed to the board following his transition to. Salesforce stock jumps 13% after earnings, revenue top estimates. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? 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. He started at the company in 1989, working in sales in his home country of Spain. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. 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. 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.. 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. Now its a museum parading J&Js 136-year heritage. Mr. Duato originally joined the Company in 1989. 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. Join us at MM+M Transform: The New Era of Connectivity for an in-depth look at trends likely to inform the industrys evolution over the next 18 months. 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. Priority No. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. "Mr. Duato's international . Terms & Conditions. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Any forward-looking statement made in this release speaks only as of the date of this release. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. (Podcast). 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. Very difficult. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. Maya Tsukernik you are amazing, congratulations on a great job!!! See here for a complete list of exchanges and delays. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. J&J declined to make Gorsky and Duato available for comment. We saw a tectonic shift as slow-moving trends went into overdrive. Reducing and/or removing logistical barriers for underrepresented populations. 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. Now vice chairman of the executive committee, Duato will take the reins effective Jan. 3 and take a seat on the companys board, J&J said in a statement late Thursday. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? 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We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. 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. 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. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. 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. 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. J&J ranks No. As a dual citizen of Spain and the United States, his international perspective and global lens gives him a deep appreciation of diverse thoughts and opinions. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. This site is governed solely by applicable U.S. laws and governmental regulations. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. 2023 CNBC LLC. Duato declined to go into legal specifics. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. All rights reserved. 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. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. "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. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. Please click below to continue to that site. Pronunciation of Joaquin Duato with 4 audio pronunciations. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. 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 . 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. LL: What was the basis for J&J to pursue emergency use authorization? 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. We want to hear from you. 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. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. 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. 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. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. (Reuters) -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 . 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Deloitte does not. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned Cautionary Note Regarding Forward-Looking Statements and Item 1A. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Leadership Team Michael J. Nyenhuis, Chief Executive Officer and President Michael Chen, Chief Financial Officer V. Rene Cutting, Chief Philanthropy Officer Shelley Diamond, Chief Marketing Officer Michael Klompus, Chief People Officer Jess Leinwand, Chief Legal Officer and General Counsel Cristina Shapiro, President of the Impact Fund for Children Darla Silva, Chief Program All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. 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. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Dow Inc and private company X-energy said on Wednesday they have agreed to develop and demonstrate the first grid-scale next-generation nuclear reactor for an industrial site in North America. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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