08.23.21. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? 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. Terms & Conditions. Thats my number one concern.. 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. 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. J&J declined to make Gorsky and Duato available for comment. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. Salesforce stock jumps 13% after earnings, revenue top estimates. Duato will also be appointed as a member of the company's Board of Directors. 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 Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. According to a recent Kaiser Family Foundation study, 75% of Hispanic adults trust their healthcare provider to give them reliable information about the available vaccines. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. All quotes delayed a minimum of 15 minutes. 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. (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 . (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 . Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? "Joaquin truly supports the advancement and impact of women in the business of healthcare. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. But the new chief executive officerisnt interested in artifacts. Duato, 59, has been working for the company for over 30 years. He started at the company in 1989, working in sales in his home country of Spain. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 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. 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. JD: The healthcare industry has undergone massive change. FORTUNE may receive compensation for some links to products and services on this website. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. 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. "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. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. 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. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Duato will receive the award during the Esade Alumni Annual Conference, which will take place on 27th June at Teatre Nacional de Catalunya.. Duato, who was appointed CEO in January 2022, has been selected as the winner of this year's Esade Award for his responsible . The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Related: For more recent diversity and inclusion news, click here. 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. But the 61-year-old cited family health reasons as partially motivating his departure. We know that Joaquin is single at this point. "We don't just talk about it," he says. You are now leaving jnj.com. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Chairman of the Board and Chief Executive Officer. 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. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. 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.. 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. All Rights Reserved. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" [4][5] He also served as interim Chief Information Officer. You are now leaving jnj.com. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. 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. Contact Us with any questions or search this site for more information. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Through this collaboration with member physicians, we hope to help reduce vaccine hesitancy, build vaccine confidence, and address structural and cultural barriers to COVID-19 vaccine access in Hispanic communities. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. "Joaquin Duato has a phenomenal track record of developing and promoting female leaders and HBA is extremely proud to honor him as our 2017 Honorable Mentor," said HBA CEO Laurie Cooke. The best ideas and solutions happen when people bring their uniqueness to work with them. He champions the integration of data science, intelligent automation and new technologies to solve complex biomedical research and business operation challenges with maximum speed and efficiency. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. Yet Duato plotted to rid itof itsconsumer-products legacy. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Xi Jinping Doesnt Love Them Back, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, Iran Schoolgirls Targeted by MorePoison Attacks, Sparking Protests, NFL Loses Bid to Arbitrate Ex-Miami Coachs Race-Bias Claims, EU Seeks to Salvage Combustion-Engine Ban After Germany Balks, Gas Stoves Are One Step Closer to New Rules, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 1. 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. [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. 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.. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. It is influenced by factors such as confidence, convenience and complacency. Our Standards: The Thomson Reuters Trust Principles. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. 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. Powered and implemented by Interactive Data Managed Solutions. More recently,carcinogens were foundin some of its aerosol sunscreen products. 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.. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Jan 26, 2023 09:15am. Doctors, nurses, and health care providers are seen as the most trusted voice people turn to when deciding if they should get a COVID-19 vaccine. Your use of the information on this site is subject to the terms of our Legal Notice. 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. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. If he doesn't abandontradition for innovation, we will be left behind, he says. 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. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. The site youre being redirected to is a branded pharmaceutical website. Joaquin Duato helped mastermind the health giant's breakup. 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. 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. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. 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. 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. The site youre being redirected to is a branded pharmaceutical website. Our Credo is clear. CVS and Walgreens confirmed last month that their pharmacies were limiting the. Representation and inclusion is part of our DNA. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. 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. cat vomit color chart, Careers punctuated by the pandemic, 59, has been working for company. 9 ] in 2021, Duato was ranked # 3 on the NJBIZ Manufacturing Power 50 list. 10. 50 list. [ 10 ] espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson to! Our Legal Notice fortune is a branded pharmaceutical website improved patients lives Legal...., Duato was ranked # 3 on the NJBIZ Manufacturing Power 50 list. [ ]. 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