Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. (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 . His career in healthcare was influenced by his family. Duato, 59, has been working for the company for over 30 years. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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.". 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. They opened my mind and made me think about higher goals. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. More recently,carcinogens were foundin some of its aerosol sunscreen products. We want to hear from you. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. We are also taking action to support health equity in communities of color, working with partners to educate the most at-risk about vaccines and working with our partners to advance racial and ethnic health equity in COVID-19 treatment and care through a series of targeted COVID-19 focused programs. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. 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. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Duato cited the recent approval of CARVYKTI, an antigen receptor T-cell therapy for the treatment of multiple myeloma, which helped 98% of patients who were otherwise likely to be headed for hospice care. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. J&J veteran Duato replaced Gorsky as CEO earlier this year after . Please see our Privacy Policy. Evolution in the healthcare marketing and communications space requires an agile team that is solutions oriented and sees beyond barriers with a how can it be done mindset. "We understand that we have a reputation. by Caroline Vakil - 08/19/21 7:18 PM ET. Your use of the information on this site is subject to the terms of our Legal Notice. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. LL: Why is it important to have collaboration among the global public health community in times of crises? The site youre being redirected to is a branded pharmaceutical website. 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. Recent surveys show Black and Hispanic adults are more likely to take a wait and see approach to getting a COVID-19 vaccine, but are also as likely as white adults to say they definitely will not take one. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Deloitte does not. (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. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Get this delivered to your inbox, and more info about our products and services. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. 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. 3 /5. The disease itself took a disproportionate toll on the Black, Latinx, Indigenous and Pacific Islander communities and it forced us to revisit the way we address and provide equitable care. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Incoming CEO Duato has also spent about 30 years with 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. He currently sits on the boards ofUNICEF USA, Tsinghua University School of Pharmaceutical Sciences and Hess Corp. Shares of New Brunswick, New Jersey-based J&J were little changed in trading after U.S. markets closed. Continue reading your article with. 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. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. 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. It is influenced by factors such as confidence, convenience and complacency. "Joaquin truly supports the advancement and impact of women in the business of healthcare. Jan 26, 2023 09:15am. Pronunciation of Joaquin Duato with 4 audio pronunciations. 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. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. From 2018, he added responsibilities for the company's consumer business,. Sign up for free newsletters and get more CNBC delivered to your inbox. It was solely about personal and professional growth, not about getting the next job. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. He is a member of high profile boards, including the Business Council and the Business Roundtable. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Gorsky, the . (Podcast). 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. Gorsky, who has served as CEO and chairman since 2012, will become. Moderate. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. 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. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from 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. 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. The rules of the past no longer apply after the seismic events of the past three years. We saw a tectonic shift as slow-moving trends went into overdrive. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. Gorsky also dramatically increased diversity, equity, and inclusion within the company, serving as the driving force behind many of Johnson & Johnsons DE&I initiatives, including its $100 million pledge to fight health inequities for communities of color in the U.S., the company said. 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. We walk the walk.. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. 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. See also:Healthcare marketers still pushing to address the gender gap. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). And while Duato isnt the type of leader who preaches from a soapbox, he believes that pharma needs to prioritize mentoring especially of top-flight women scientists far more than other industries do. 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. 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. If he doesn't abandontradition for innovation, we will be left behind, he says. Duato is the only major health industry CEO who has served as chief information officer. 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. Joaquin Duato is surrounded by relics of the past. 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. 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.. 2023 CNBC LLC. They created a strong foundation of trust and collaboration and mutual respect.. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. 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. "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. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. They averaged a 15% annual return, in line with the S&P 500 Index. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. 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. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. This site is governed solely by applicable U.S. laws and governmental regulations. 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 . 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. 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. 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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. Duato will also be appointed as a member of the company's Board of Directors. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. On this Wikipedia the language links are at the top of the page across from the article title. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? That diversity gets us closer to our customer base, Duato points out. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. The medtech business grew 16% in 2021 even as Covid limited procedures, and advancements in surgery using AI are among the breakthroughs that the new CEO is betting on. 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. 4. LinkedIn has officially entered its cringe era, and its working. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Visit a quote page and your recently viewed tickers will be displayed here. 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. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. JD: With our ENSEMBLE COVID-19 vaccine clinical trial, we employed intentional focus and purposeful tracking in the clinical trial design and experience, which allowed us to achieve our enrollment targets within populations disproportionately affected by the COVID-19 pandemic. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Duato declined to go into legal specifics. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . All contents Copyright Johnson & Johnson Services, Inc.1997-2023. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. 1. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Mr. Duato JNJ stock SEC Form 4 insiders trading. As Vice Chairman of the Executive Committee, he provides . In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. "We don't just talk about it," he says. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. "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. The best ideas and solutions happen when people bring their uniqueness to work with them. We have to make specific outreach to women on the STEM side. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. . Create your free account or log in to continue reading this premium content. 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. 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. Very difficult. 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. I also want to thank Alex for his countless contributions to our Company. 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. 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. 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