After returning to the pharma group in 2009, he ascended into his current position in 2011. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Joaquin Duato (born April 1962) is a Spanish-American business executive. His career in healthcare was influenced by his family. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Jan 26, 2023 09:15am. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. 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. 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. 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. 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. The site youre being redirected to is a branded pharmaceutical website. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. J&J declined to make Gorsky and Duato available for comment. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. 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. 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. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. "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. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. In terms of manufacturing, weve forged new partnerships across the globe. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. Aug 19, 2021 11:00PM EDT. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. 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. 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. See here for a complete list of exchanges and delays. He was also appointed to the companys board of directors. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. 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. 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. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. 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 . Yet Duato plotted to rid itof itsconsumer-products legacy. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. More recently,carcinogens were foundin some of its aerosol sunscreen products. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. 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. 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. Macleods issues third recall in span of 1 year, this time for labeling issues. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. Previously, Joaquin served as the Vice Chairman of the . (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. 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. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Duato will also be appointed as a member of the company's Board of Directors. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. We know that Joaquin is single at this point. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&J's drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become. [4][5] He also served as interim Chief Information Officer. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. At Johnson & Johnson, we respect the diversity and dignity of every individual and we must use our position to not only speak out, but to take action. 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. All Rights Reserved. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. 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. Terms & Conditions. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . J&J ranks No. Very difficult. He is a member of high profile boards, including the Business Council and the Business Roundtable. He lives in Pennsylvania with his wife and has two grown children. 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It was solely about personal and professional growth, not about getting the next job. "All of them are providing significant improvements in the standard of care, and at the same time, all of them with more than a billion-dollar potential," he said. 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. (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 . They closed at a record high of $179.47 Tuesday, buoyed by the companys portfolio of cancer and immunology drugs as patients return to hospitals after lockdown. He leads a global workforce of 135,000 employees in developing and delivering . 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. 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. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. From 2018, he added responsibilities for the company's consumer business,. Jan 26, 2023 11:12am. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. That is why I believe. He started at the company in 1989, working in sales in his home country of Spain. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. We saw a tectonic shift as slow-moving trends went into overdrive. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 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. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Duato is a dual citizen of Spain and the United States. Gorsky, the . 08.23.21. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. 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. 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. "Mr. Duato's international . LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? A longtime advocate of diversity and inclusion and supporter of veterans issues, Alex currently sits on the Board of Directors of Apple, IBM, JPMorgan Chase, NewYork-Presbyterian Hospital, and the Travis Manion Foundation, and serves on the Wharton School of the University of Pennsylvania Board of Advisors. Now its a museum parading J&Js 136-year heritage. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. Pharma. The site youre being redirected to is a branded pharmaceutical website. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. (Podcast). Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. 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. 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. [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. 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. Research and development on the drug side is accelerating as well, he said, with a pipeline of 14 new medicines to be filed before 2025. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" Joaquin Duato is best known for driving the transformation of Johnson & Johnson's 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. 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. The rules of the past no longer apply after the seismic events of the past three years. 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. As Vice Chairman of the Executive Committee, he provides . 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. 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. 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. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. Thats my number one concern.. Duato will also be appointed to the board following his transition to. They created a strong foundation of trust and collaboration and mutual respect.. Please click below to continue to that site. 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. Duato grew up in Valencia, Spain. You are now leaving jnj.com. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Continue reading your article with. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. Romaine Bostick breaks down the day's top stories and trading action leading into the close. Most of all, I am humbled to lead our talented and dedicated team of 136,000 associates around the world, and I am immensely proud of how we have upheld the Companys 134-year legacy of delivering solutions to address the worlds most urgent, unmet healthcare needs, he said. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Duato is trilingual, speaking English, Spanish, and Italian. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. 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. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. "I see a future in which all medical devices would be smarter, connected to the cloud, being able to provide data to the surgeons for them to be able to in real time deliver better surgical outcomes," he said. 2023 CNBC LLC. That diversity gets us closer to our customer base, Duato points out. 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. 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. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. 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. 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.. 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