[1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. The site youre being redirected to is a branded pharmaceutical website. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Moderate. 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. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. If he doesn't abandontradition for innovation, we will be left behind, he says. This site is governed solely by applicable U.S. laws and governmental regulations. 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. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. 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. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. 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. Contact Us with any questions or search this site for more information. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. 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. "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. Duato, 59, has been working for the company for over 30 years. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Duato will also be appointed as a member of the company's Board of Directors. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. Chairman of the Board and Chief Executive Officer. His career in healthcare was influenced by his family. 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. (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 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. Duato doesnt overtly attribute Johnson & Johnsons enduring success to its organizational makeup, but he doesnt downplay its importance the same way many other pharma higher-ups do, either. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. With these additions to our global manufacturing network, we are committed to delivering 100 million single-shot doses of our COVID-19 vaccine to the U.S. government, and delivering 200 million doses to the European Union, Norway and Iceland. Gorsky, who was at the helm for nine years, will become executive chairman. Maya Tsukernik you are amazing, congratulations on a great job!!! Gorsky, the . [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. Duato is the only major health industry CEO who has served as chief information officer. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. When the COVID-19 pandemic began he oversaw the Companys rapid response to the crisis and drove coordination of global initiatives to safeguard the health of employees, ensure business and supply chain continuity, and accelerate the development of a COVID-19 vaccine. Romaine Bostick breaks down the day's top stories and trading action leading into the close. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. . 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. [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. Joaquin Duato (born April 1962) is a Spanish-American business executive. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. 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. Duato is committed to nurturing a diverse, equitable and inclusive workplace as J&J continues to develop medicines to transform the lives of patients around the world. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. "We understand that we have a reputation. Continue reading your article with. [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. 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. 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. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. On this Wikipedia the language links are at the top of the page across from the article title. Joaquin Duato is surrounded by relics of the past. That diversity gets us closer to our customer base, Duato points out. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. We saw a tectonic shift as slow-moving trends went into overdrive. A Division of NBCUniversal. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. That is why I believe. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. About Alex GorskyAlex Gorsky is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, one of just seven leaders who have served in the dual role since the company was listed on the New York Stock Exchange in 1944. All Rights Reserved. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. (18 votes) Very easy. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. We walk the walk.. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. 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. (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 . Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. 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. 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. Rate the pronunciation difficulty of Joaquin Duato. From 2018, he added responsibilities for the company's consumer business,. 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. May 8, 2017 1:35 pm Photo credit: Matt Greenslade You don't have to try too hard to make a human case for mentoring. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . Educating physicians and investigators and working with diverse clinical trial personnel. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The best ideas and solutions happen when people bring their uniqueness to work with them. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. He was also appointed to the companys board of directors. 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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. 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. You dont have to try too hard to make a human case for mentoring. He started at the company in 1989, working in sales in his home country of Spain. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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 is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. See here for a complete list of exchanges and delays. It was solely about personal and professional growth, not about getting the next job. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? REGISTER BELOW, Why Johnson & Johnson is splitting itself into two publicly traded companies, How AI is detecting heart attack risk and aiming to outsmart Americas No. Helm for nine years, will take the reins and a member of the Board role. 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