Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. 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.. LinkedIn has officially entered its cringe era, and its working. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. Please click below to continue to that site. But the 61-year-old cited family health reasons as partially motivating his departure. The vaccine technology platform was designed to help the global health community better prepare for and combat life threatening infectious disease outbreaks and aided in the accelerated development of 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.. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Previously, Joaquin served as the Vice Chairman of the . After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 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. 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. Easy. It is extremely important for us to collaborate worldwide to help combat this disease. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. Chairman of the Board and Chief Executive Officer. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. 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. "Mr. Duato's international . Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. 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. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnsons opportunity to play a key role in meaningfully improving the global trajectory of human health, he said. Under Alexs leadership, Johnson & Johnson continues to be one of the worlds exceptional corporations and is currently the number one pharmaceutical company on Fortune magazines list of the Worlds Most Admired Companies.. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Duato, 59, has been working for the company for over 30 years. 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 . Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Duato declined to go into legal specifics. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. Get this delivered to your inbox, and more info about our products and services. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting 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.. Joaquin Duato (born April 1962) is a Spanish-American business executive. 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. He added that he saw a profound impact of Johnson & Johnsons medicines over his 30-year career with the company, which includes investment in research and development and drove global advances in healthcare over the past decade. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Duato is a dual citizen of Spain and the United States. 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. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Duato will also be appointed to the board following his transition to. Duato grew up in Valencia, Spain. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Joaquin Duato is surrounded by relics of the past. "We don't just talk about it," he says. Duato will also be appointed as a member of the company's Board of Directors. 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. 2023 CNBC LLC. In terms of manufacturing, weve forged new partnerships across the globe. The best ideas and solutions happen when people bring their uniqueness to work with them. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Maya Tsukernik you are amazing, congratulations on a great job!!! [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . 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. (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 . 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. Create your free account or log in to continue reading this premium content. 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. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Nonetheless, investor goodwill remains strong in the company. "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. Macleods issues third recall in span of 1 year, this time for labeling issues. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Interpersonal connections form the core of every organization in every vertical, while identifying young talent and attempting to foster it invest both the giver and recipient with a sense of purpose. FORTUNE may receive compensation for some links to products and services on this website. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. "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. 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. 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. A Division of NBCUniversal. 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. Your use of the information on this site is subject to the terms of our Legal Notice. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . It was solely about personal and professional growth, not about getting the next job. I also want to thank Alex for his countless contributions to our Company. 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. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. Joaquin Duato, the new CEO of Johnson & Johnson, is comfortable enough in his new position at the 135-year-old company to issue a bold claim just a few months into the job and during his first interview: he predicts the next decade will see more health-care transformation than occurred during the past century. 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. (18 votes) Very easy. He started at the company in 1989, working in sales in his home country of Spain. 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. Offers may be subject to change without notice. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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 Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. 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. "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. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. We saw a tectonic shift as slow-moving trends went into overdrive. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. (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. Joaquin Duato helped mastermind the health giant's breakup. Joaquin Duato. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. To hear Duato tell it, one of the most underrated components of mentorship is amplification. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? 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. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. Very difficult. Moderate. Romaine Bostick breaks down the day's top stories and trading action leading into the close. 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. 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. The site youre being redirected to is a branded pharmaceutical website. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. [4][5] He also served as interim Chief Information Officer. The industry leader for online information for tax, accounting and finance professionals. His career in healthcare was influenced by his family. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. 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. Thats my number one concern.. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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. 2023 Fortune Media IP Limited. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). articles a month for anyone to read, even non-subscribers! LL: Why is it important to have collaboration among the global public health community in times of crises? 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. Powered and implemented by Interactive Data Managed Solutions. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Gorsky, who has served as CEO and chairman since 2012, will become. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. 4. 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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. Related: For more recent diversity and inclusion news, click here. The site youre being redirected to is a branded pharmaceutical website. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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.". 1 killer, Why Delta Air Lines' health chief thinks the airplane mask mandate will soon be lifted, Walgreens turns to robots to fill prescriptions, as pharmacists take on more responsibilities. 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. Terms & Conditions. 1. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. 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. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. "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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. J&J veteran Duato replaced Gorsky as CEO earlier this year after . Our Standards: The Thomson Reuters Trust Principles. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. 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. 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. That is why I believe. Gorsky, who was at the helm for nine years, will become executive chairman. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. 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. 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. Pharma. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 08.23.21. See here for a complete list of exchanges and delays. "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. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Reducing and/or removing logistical barriers for underrepresented populations. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Please see our Privacy Policy. 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