Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. JD: The virus does not recognize borders. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. "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. 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 . Alex Gorsky, currently chairman and CEO, will serve as executive chairman of Johnson & Johnson and transition the CEO role to Joaquin Duato, currently vice chairman of the company's executive committee, effective January 3, 2022. Any forward-looking statement made in this release speaks only as of the date of this release. 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.. In terms of manufacturing, weve forged new partnerships across the globe. (Podcast). 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. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. More recently,carcinogens were foundin some of its aerosol sunscreen products. 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. 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. Joaquin Duato (born April 1962) is a Spanish-American business executive. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. 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 . 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. See here for a complete list of exchanges and delays. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. This site is governed solely by applicable U.S. laws and governmental regulations. 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. Powered and implemented by Interactive Data Managed Solutions. 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. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Most of all, I am humbled to lead our talented and dedicated team of 136,000 associates around the world, and I am immensely proud of how we have upheld the Companys 134-year legacy of delivering solutions to address the worlds most urgent, unmet healthcare needs, he said. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Gorsky, who has served as CEO and chairman since 2012, will become. Joaquin Duato. Chairman of the Board and Chief Executive Officer. 1. Aug 19, 2021 11:00PM EDT. It was solely about personal and professional growth, not about getting the next job. Yet Duato plotted to rid itof itsconsumer-products legacy. by Caroline Vakil - 08/19/21 7:18 PM ET. Joaquin Duato Chairman of the Board and Chief Executive Officer New Brunswick, New Jersey, United States 38K followers 500+ connections Join to follow Johnson & Johnson Esade About I believe that. That diversity gets us closer to our customer base, Duato points out. I believe that moving forward, we will take the lessons we have learned from the COVID-19 pandemic humanitarian crisis as we look to consider and prioritize the health of all communities, patients, consumers, and their families. "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 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Moderate. 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. 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. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. 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. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. Offers may be subject to change without notice. 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. LinkedIn has officially entered its cringe era, and its working. It is influenced by factors such as confidence, convenience and complacency. 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. The decision to step aside was one of the most difficult of my career. 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, 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 . You are now leaving jnj.com. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. Thats my number one concern.. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. "We understand that we have a reputation. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. It is extremely important for us to collaborate worldwide to help combat this disease. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. 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. 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. 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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Anne Mulcahy, J&Js lead independent director, said the board engaged in thoughtful long-term succession planning. She described Duato as an effective and committed leader who has been critical to the companys growth. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. 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. 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. We have to make specific outreach to women on the STEM side. Mr. Duato, age 59, is currently Vice Chairman of the Company's Executive Committee and provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. 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. (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 . Joaquin Duato is best known for driving the transformation of Johnson & Johnson's 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. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. Duato will also be appointed as a member of the company's Board of Directors. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. 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. Risk Factors, in the Companys most recently filed Quarterly Report on Form 10-Q and the Companys subsequent filings with the Securities and Exchange Commission. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. 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. "We don't just talk about it," he says. 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. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. We know that Joaquin is single at this point. In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. 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. "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. 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? Duato is the only major health industry CEO who has served as chief information officer. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. That is why I believe. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Very difficult. JD: Throughout our more than 130-year history, Johnson & Johnson has had a legacy of coming to the aid of communities during times of crisis from natural disasters to health outbreaks. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. articles a month for anyone to read, even non-subscribers! But the new chief executive officerisnt interested in artifacts. 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.. CVS and Walgreens confirmed last month that their pharmacies were limiting the. We dont just talk about it, he says. 2023 Fortune Media IP Limited. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. 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. 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. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. Duato grew up in Valencia, Spain. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Jan 26, 2023 09:15am. 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. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. You are now leaving jnj.com. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. 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.. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Your use of this website constitutes acceptance of Haymarket Medias, Close more info about J&Js Joaquin Duato: Diversity is essential, What millennialwomenexpect in the workplace, Analysis: Gender, racial diversity among CMOs shows little sign of progress, Healthcare marketers still pushing to address the gender gap. 2023 CNBC LLC. All quotes delayed a minimum of 15 minutes. 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