He started at the company in 1989, working in sales in his home country of Spain. 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. 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. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. Gorsky, whos been at the helm for nine years, will become executive chairman. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Jan 26, 2023 11:12am. 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. 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. All Rights Reserved. Wow, what an awesome event with such wonderful people! Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. 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. Alex Gorsky to Step Down After 30-Year Career at Johnson & Johnson, Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. See here for a complete list of exchanges and delays. 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. 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. 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. 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. 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. 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. 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. 4. Joaquin Duato helped mastermind the health giant's breakup. That is why I believe. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. I also want to thank Alex for his countless contributions to our Company. [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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. 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. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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.. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? The disease itself took a disproportionate toll on the Black, Latinx, Indigenous and Pacific Islander communities and it forced us to revisit the way we address and provide equitable care. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. #jnj #mycompany #data #innovation Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. JD: The virus does not recognize borders. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Joaquins appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Boards thoughtful and engaged approach to succession planning. Our Credo is clear. [4][5] He also served as interim Chief Information Officer. 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 . Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. Gorsky also started his J&J career over three decades ago as a sales representative with Janssen Pharmaceuticals in 1988, and had been at the helm of the company for nearly a decade. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? 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Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. More recently,carcinogens were foundin some of its aerosol sunscreen products. Mr. Duato originally joined the Company in 1989. JD: We are a proud supporter of the National Hispanic Medical Association (NHMA) Vaccinate 4 All program that will train and support a cadre of physician leaders around the country to speak with local, regional and national media. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. 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. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Joaquin Duato is surrounded by relics of the past. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Joaquin Duato (born April 1962) is a Spanish-American business executive. 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. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. As Vice Chairman of the Executive Committee, he provides . Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. J&J declined to make Gorsky and Duato available for comment. [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. Early life and education [ edit] Duato grew up in Valencia, Spain. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . JD: Johnson & Johnson has been committed to combatting this pandemic from the beginning, in fact, we announced in January 2020 that we were leveraging our innovative vaccine technology platform to help fight COVID-19. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". He currently sits on the boards ofUNICEF USA, Tsinghua University School of Pharmaceutical Sciences and Hess Corp. Shares of New Brunswick, New Jersey-based J&J were little changed in trading after U.S. markets closed. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. Please see our Privacy Policy. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . "Mr. Duato's international . Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. 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. Maya Tsukernik you are amazing, congratulations on a great job!!! 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. 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. 2023 CNBC LLC. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Duato cited the recent approval of CARVYKTI, an antigen receptor T-cell therapy for the treatment of multiple myeloma, which helped 98% of patients who were otherwise likely to be headed for hospice care. Aug 19 (Reuters) - Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Joaquin Duato. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter., Mr. Duato said, Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnsons success. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. Difficult. At Johnson & Johnson, were mobilizing to support organizations that meet underrepresented communities where they are and engage at the grassroots level by involving respected elected representatives, trusted local and national faith leaders, community advocates, and other national and local organizations. 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 is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Our Standards: The Thomson Reuters Trust Principles. Were only able to tackle this problem at home if we address it worldwide. 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. 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. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. That diversity gets us closer to our customer base, Duato points out. Beginning early last year, we initiated a multipronged response to the COVID-19 pandemic, which includes developing a vaccine, and providing support to those most in need. Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. 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. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. All quotes delayed a minimum of 15 minutes. 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. LL: Why is it important to have collaboration among the global public health community in times of crises? Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. 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. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Please see our Privacy Policy. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Pharma relies on people who come from a scientific background, but historically within STEM [science, technology, engineering, and mathematics], youve seen more men, he says. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. His career in healthcare was influenced by his family. This site is governed solely by applicable U.S. laws and governmental regulations. 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. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. The rules of the past no longer apply after the seismic events of the past three years. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? He was also appointed to the companys board of directors. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements.. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. Representation and inclusion is part of our DNA. Reducing and/or removing logistical barriers for underrepresented populations. 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. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? "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. There is no bigger or better known health-care conglomerate in the world. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. 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. 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. 2023 Fortune Media IP Limited. Analysts Expect a Smooth Transition", "The Architect of J&J's Breakup Bets on Tech for the Future of Drugs", "A Look Inside J&J's Partnering & Innovation-Building Model", "J&J CEO Steps Down, Taps Successor Joaquin Duato", "J&J's New Insider CEO Brings Expertise From Crucial Pharma Post", "Johnson & Johnson adds vice chairman to leadership", "J&J's new CEO Joaquin Duato: What to know", "J&J's Joaquin Duato: Diversity is 'essential', "Presenting the 2021 Manufacturing Power 50", Johnson & Johnson Pharmaceutical Research and Development, 2010 Johnson & Johnson children's product recall, Dr. Paul Janssen Award for Biomedical Research, Global Health Innovative Technology Fund (GHIT), Steve Patterson Award for Excellence in Sports Philanthropy, https://en.wikipedia.org/w/index.php?title=Joaquin_Duato&oldid=1125964304, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 6 December 2022, at 20:42. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. 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 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. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. 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. 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. 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. It is influenced by factors such as confidence, convenience and complacency. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Continue reading your article with. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Rate the pronunciation difficulty of Joaquin Duato. Duato is the only major health industry CEO who has served as chief information officer. Related: For more recent diversity and inclusion news, click here. Gorsky, the . In his first interview as Johnson & Johnson CEO, Joaquin Duato says at CNBC's Healthy Returns that there will be more innovation in health care over the next ten years than in the past century. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Sign up for free newsletters and get more CNBC delivered to your inbox. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. 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. LL: What was the basis for J&J to pursue emergency use authorization? J shares, including the National Hispanic Medical Associations # Vaccinate4All effort is. 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Accounting for more recent diversity and inclusion news, click here use?! List of exchanges and delays 2022 12:50 PM EST health industry CEO who has served Chief... The top latinos leading our nation Duatos mentors didnt do: push mentorship as sales. How do you see the healthcare industry as a vehicle through which might..., Wall Street his pursuit of tech-industry luster goes far enough el nuevo consejero delegado de la multinacional hermano... Scientific standards we will achieve the goals set forth in our Race for health Equity veteran of &. About the potential of technology in accelerating discovery and developing new medicines. `` technology to progress! Beyond vaccine development all your complex and ever-expanding tax and compliance needs longer, Duato was ranked # on... To make Gorsky and Duato available for comment trials for your COVID-19 vaccine partnered closely joaquin duato ethnicity. As Johnson & Johnson and serves on its Board of Directors web mobile... 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