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.. (18 votes) Very easy. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Joaquin has long believed in the power of technology to accelerate progress in healthcare. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Ms. Taubert owns over 76,923 units of Johnson & Johnson stock worth over $35,709,285 and over the last 4 years she sold JNJ stock worth over $0. Contact Us with any questions or search this site for more information. Duato, 59, currently serves as vice chairman of J & J's executive committee, which involves working with the company's pharmaceutical and health sectors and overseeing its . All contents Copyright Johnson & Johnson Services, Inc.1997-2023. It was solely about personal and professional growth, not about getting the next job. 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. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Nonetheless, investor goodwill remains strong in the company. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. [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. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Why? Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. See here for a complete list of exchanges and delays. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Duato is a dual citizen of Spain and the United States. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. "We don't just talk about it," he says. They created a strong foundation of trust and collaboration and mutual respect.. Very difficult. The largest trade he's ever made was exercising 148,538 units of Johnson & Johnson stock on 17 January 2023 worth over $10,774,947. Offers may be subject to change without notice. 1. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. "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. 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. There is no bigger or better known health-care conglomerate in the world. 3 /5. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Mr. Duato originally joined the Company in 1989. Representation and inclusion is part of our DNA. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. From 2018, he added responsibilities for the company's consumer business,. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. 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. 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. 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. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Macleods issues third recall in span of 1 year, this time for labeling issues. Romaine Bostick breaks down the day's top stories and trading action leading into the close. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. 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. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. articles a month for anyone to read, even non-subscribers! JD: The virus does not recognize borders. See also:Healthcare marketers still pushing to address the gender gap. You are now leaving jnj.com. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. Duato is trilingual, speaking English, Spanish, and Italian. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Previously, Joaquin served as the Vice Chairman of the . Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. 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. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. (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. Jan 26, 2023 09:15am. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 2023 CNBC LLC. But the 61-year-old cited family health reasons as partially motivating his departure. New compounds can be measured against a single cell to more rapidly identify pharmacological activity, such as expected toxicities, and accelerate the development of new medicines. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Duato, 59, has been working for the company for over 30 years. Your use of the information on this site is subject to the terms of our Legal Notice. We walk the walk.. 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. 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. 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. LL: What do we know about vaccine hesitancy in the Latinx community? 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. 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 He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. Create your free account or log in to continue reading this premium content. 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 . 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. 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. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements.. 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.. Thats my number one concern.. 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. [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. Reducing and/or removing logistical barriers for underrepresented populations. 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. A Division of NBCUniversal. Pronunciation of Joaquin Duato with 4 audio pronunciations. They opened my mind and made me think about higher goals. Please see our Privacy Policy. 4. 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. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? 08.23.21. 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. Joaquin Duato works as a Chairman & Chief Executive Officer at Johnson & Johnson, which is a Holding Companies & Conglomerates company with an estimated 144 K employees; and founded in 1886. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. LL: Why is it important to have collaboration among the global public health community in times of crises? Over 34 years with the company, he developed a deep understanding of whats possible at Johnson & Johnson by working in all business sectors and across multiple geographies and functions. Wow, what an awesome event with such wonderful people! Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. These statements are based on current expectations of future events. 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. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? 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. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Jan 26, 2023 11:12am. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. 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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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