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. 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. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. Your use of the information on this site is subject to the terms of our Legal Notice. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. Deloitte does not. 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 . Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. We understand that we have a high bar and a high expectation from society overall.Yes, we have some challenges when you refer to the litigation. 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. Duato will also be appointed as a member of the company's Board of Directors. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. 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He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. A Division of NBCUniversal. They averaged a 15% annual return, in line with the S&P 500 Index. Gorsky, the . "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. "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. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. 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. Representation and inclusion is part of our DNA. The site youre being redirected to is a branded pharmaceutical website. We walk the walk.. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. 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. We want to hear from you. Gorsky, who was at the helm for nine years, will become executive chairman. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. Joaquin Duato helped mastermind the health giant's breakup. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? 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. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. The decision to step aside was one of the most difficult of my career. 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. See here for a complete list of exchanges and delays. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Gorsky, who has served as CEO and chairman since 2012, will become. 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. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. 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. We know that Joaquin is single at this point. 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. 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. (Podcast). 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. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Duato declined to go into legal specifics. 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. [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. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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 was also appointed to the companys board of directors. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. To reflect that, HCB Health has become Boundless Life Sciences Group. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Why? Reducing and/or removing logistical barriers for underrepresented populations. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. All Rights Reserved. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. As Vice Chairman of the Executive Committee, he provides . We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. He leads a global workforce of 135,000 employees in developing and delivering . 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. All Rights Reserved. The site youre being redirected to is a branded pharmaceutical website. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 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. 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 coronavirus pandemic. 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.. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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. Please see our Privacy Policy. You are now leaving jnj.com. We have to make specific outreach to women on the STEM side. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. 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. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. [4][5] He also served as interim Chief Information Officer. 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. Offers may be subject to change without notice. These statements are based on current expectations of future events. Now its a museum parading J&Js 136-year heritage. Joaquin Duato. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Thats my number one concern.. Prior to that time, he held senior leadership positions over his 30-plus year career with the Company across multiple business sectors, geographics and functions. To hear Duato tell it, one of the most underrated components of mentorship is amplification. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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 We saw a tectonic shift as slow-moving trends went into overdrive. Duato is trilingual, speaking English, Spanish, and Italian. Joaquin Duato takes over Jan. 3 as CEO amid plans to spin off J&J's consumer division, a shakeup of other executive leadership positions, high profile lawsuits and controversy that stunted sales . 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