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. 2. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. I also want to thank Alex for his countless contributions to our Company. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. 8 Enthusiasm for getting the COVID-19 vaccine continues to grow among people across racial and ethnic backgrounds, with the largest increase among Black adults. 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.". (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 . JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. Difficult. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. J&J ranks No. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. FORTUNE may receive compensation for some links to products and services on this website. 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. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. Nonetheless, investor goodwill remains strong in the company. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. 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. 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 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. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. The rules of the past no longer apply after the seismic events of the past three years. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Gorsky, who was at the helm for nine years, will become executive chairman. All Rights Reserved. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. "Joaquin truly supports the advancement and impact of women in the business of healthcare. . 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. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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. Get this delivered to your inbox, and more info about our products and services. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. "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. Pharma. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. Were only able to tackle this problem at home if we address it worldwide. 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. Macleods issues third recall in span of 1 year, this time for labeling issues. New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc Hall of Fame company) has announced that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. See also:Healthcare marketers still pushing to address the gender gap. The site youre being redirected to is a branded pharmaceutical website. Jan 26, 2023 11:12am. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . In this podcast, Matt Botkin, SVP, business development (health systems) at Doceree, throws light on how the pharmaceutical industry can leverage technology to address the issue of healthcare affordability. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 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. [4][5] He also served as interim Chief Information Officer. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. AboutPressCopyrightContact. "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. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. LL: What do we know about vaccine hesitancy in the Latinx community? "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. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. They created a strong foundation of trust and collaboration and mutual respect.. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Easy. The decision to step aside was one of the most difficult of my career. 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. 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. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. "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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. 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. 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. 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. 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. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Salesforce stock jumps 13% after earnings, revenue top estimates. (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. #jnj #mycompany #data #innovation Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? Gorsky, whos been at the helm for nine years, will become executive chairman. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. 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.. (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 . Got a confidential news tip? We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. "We can do genomic sequencing, and at the same time with large data sets, utilize AI and machine learning to create patterns in which we can correlate diseases with genomic profiling, to identify what are going to be the underpinnings of diseases that are going to be the triggers, the targets that we are going to be able to utilize in our discovery," Duato said. 2023 Fortune Media IP Limited. The healthcare conglomerate is in the middle of the biggest shake-up in its 135-year history, spinning off its consumer health business under the name Kenvue. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . We know that Joaquin is single at this point. Very difficult. They averaged a 15% annual return, in line with the S&P 500 Index. 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. Your use of the information on this site is subject to the terms of our Legal Notice. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. There is no bigger or better known health-care conglomerate in the world. "We understand that we have a reputation. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Now its a museum parading J&Js 136-year heritage. Representation and inclusion is part of our DNA. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. Duato will also be appointed as a member of the company's Board of Directors. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. 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. Mr. Duato originally joined the Company in 1989. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. From 2018, he added responsibilities for the company's consumer business,. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Our Standards: The Thomson Reuters Trust Principles. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Previously, Joaquin served as the Vice Chairman of the . El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. Joaquin Duato. It is influenced by factors such as confidence, convenience and complacency. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. 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. But the 61-year-old cited family health reasons as partially motivating his departure. 4. 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. 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. Aug 19, 2021 11:00PM EDT. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. Our Credo is clear. 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. 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. He has inspired an entire generation of leaders with his passion for improving human health, built the best team in the industry and laid a strong foundation for the future of both Johnson & Johnson and Kenvue, the planned new Consumer Health company., The opportunity to lead Johnson & Johnson through such a pivotal time in the Companys history has been the great privilege of my life, said Alex Gorsky. 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. 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. Contact Us with any questions or search this site for more information. Evolution in the healthcare marketing and communications space requires an agile team that is solutions oriented and sees beyond barriers with a how can it be done mindset. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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 . 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. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. While Duato doesnt share specific experiences or anecdotes, he notes that being mentored was hugely important to his development as both a professional and a person and that every one of his mentors along the way happened to be women. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. 08.23.21. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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.. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Contact Us with any questions or search this site for more information. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. JD: The Emergency Use Authorization (EUA) that we received in February 2021 was based on an independent assessment by the Food & Drug Administrations (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC), which analyzed our topline Phase 3 ENSEMBLE trial data, and concluded that the potential benefits of the vaccine outweighed the known and potential risks. 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. Religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none seismic events the... 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