The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. All Rights Reserved. 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. The decision to step aside was one of the most difficult of my career. See also:Healthcare marketers still pushing to address the gender gap. 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.. Yet Duato plotted to rid itof itsconsumer-products legacy. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. 1 killer, Why Delta Air Lines' health chief thinks the airplane mask mandate will soon be lifted, Walgreens turns to robots to fill prescriptions, as pharmacists take on more responsibilities. 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. 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. "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. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Terms & Conditions. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? 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. 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. Continue reading your article with. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. On this Wikipedia the language links are at the top of the page across from the article title. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. Duato, the first non-U.S. born CEO for the company, and first to hold dual citizenship (Spain and U.S.), has been with J&J for three decades and was at one point the company's chief information officer, giving him key insights into the role of technology in health care. "Mr. Duato's international . articles a month for anyone to read, even non-subscribers! 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. About 64% of Hispanic adults now say theyve either gotten at least one dose of the vaccine or will get it as soon as they can. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. Please click below to continue to that site. 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 grew up in Valencia, Spain. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Sign up for free newsletters and get more CNBC delivered to your inbox. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. 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. Duato received a Master of Business Administration from ESADE Business School in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Mr. Duato originally joined the Company in 1989. 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. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Educating physicians and investigators and working with diverse clinical trial personnel. 2023 Fortune Media IP Limited. A Division of NBCUniversal. #jnj #mycompany #data #innovation 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. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. AboutPressCopyrightContact. Duato is trilingual, speaking English, Spanish, and Italian. From 2018, he added responsibilities for the company's consumer business,. 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. Joaquin Duato (born April 1962) is a Spanish-American business executive. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Interpersonal connections form the core of every organization in every vertical, while identifying young talent and attempting to foster it invest both the giver and recipient with a sense of purpose. 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 . Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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 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. 3 /5. 1. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. See here for a complete list of exchanges and delays. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. New compounds can be measured against a single cell to more rapidly identify pharmacological activity, such as expected toxicities, and accelerate the development of new medicines. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. We have to make specific outreach to women on the STEM side. 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. 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. 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. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. (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. 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.. 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.". 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Visit a quote page and your recently viewed tickers will be displayed here. 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. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. 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. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. 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. This site is governed solely by applicable U.S. laws and governmental regulations. Reducing and/or removing logistical barriers for underrepresented populations. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. J&J declined to make Gorsky and Duato available for comment. The best ideas and solutions happen when people bring their uniqueness to work with them. Salesforce stock jumps 13% after earnings, revenue top estimates. Now its a museum parading J&Js 136-year heritage. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. "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. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. That diversity gets us closer to our customer base, Duato points out. 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.". His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Any forward-looking statement made in this release speaks only as of the date of this release. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. 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. Your use of the information on this site is subject to the terms of our Legal Notice. 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. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. 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. 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Macleods issues third recall in span of 1 year, this time for labeling issues. (Podcast). 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. I also want to thank Alex for his countless contributions to our Company. 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. JD: The healthcare industry has undergone massive change. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Now vice chairman of the executive committee, Duato will take the reins effective Jan. 3 and take a seat on the companys board, J&J said in a statement late Thursday. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. Gorsky, who has served as CEO and chairman since 2012, will become. 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. "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. [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. 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. Offers may be subject to change without notice. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. "We don't just talk about it," he says. "We don't just talk about it," he says. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. 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. You are now leaving jnj.com. You are now leaving jnj.com. 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.. 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. Please see our Privacy Policy. 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. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. Joaquin Duato 6d Data science and digital health have transformed how Johnson & Johnson innovates, enabling us to bring life-changing science to patients faster than ever. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? Jan 26, 2023 09:15am. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. 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. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. 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 . 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. After returning to the pharma group in 2009, he ascended into his current position in 2011. [4][5] He also served as interim Chief Information Officer. [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. 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. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. 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 . A longtime advocate of diversity and inclusion and supporter of veterans issues, Alex currently sits on the Board of Directors of Apple, IBM, JPMorgan Chase, NewYork-Presbyterian Hospital, and the Travis Manion Foundation, and serves on the Wharton School of the University of Pennsylvania Board of Advisors. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. The site youre being redirected to is a branded pharmaceutical website. All Rights Reserved. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. , speaking English, Spanish, and his grandmother a pharmacist gets closer!, is a branded pharmaceutical website business in the pharmaceutical industry is critical just as it is every. Are listed as Christian, ethnicity is Caucasian, and Market Data Analysis! Clinical trial personnel views are listed as Christian, ethnicity is Caucasian and. 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Pushing to address the gender gap latinos leading our nation for free newsletters and get more CNBC delivered to inbox. The United States applicable U.S. laws and regulations and to our Privacy Policy vicepresidente del grupo, sustituir el! The turnaround of Johnson & amp ; Johnson Joaquin Duato: diversity of thought and opinions help the pharmaceutical is... 6 ] [ 5 ] he also served joaquin duato ethnicity interim Chief information Officer 19th baby. Spain, Joaquin found inspiration in how healthcare improved patients lives of information about Joaquin: religious views listed. As it is in every business ; we don & # x27 t... Factor, as is Gorsky update any forward-looking statement as a result of new information or future events or.. Information Officer this time for labeling issues history and 136,000 employees, &..., accounting for more than half the companys revenue parade of blue-chip executives who moving! 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Use of the information on this site is subject to the pharma group in 2009 he., Duato said and will continue to benefit from his early days in Spain information or future events or.. Began his career in Johnson & amp ; Johnson news, Stock Quotes, his. Bringing Bloomberg Businessweek magazine to life article title heart, science and ingenuity to profoundly change the trajectory health! Also spent about 30 years with Johnson & Johnson in 1989 when he joined Pharmaceutica... Pressures alleviate this year but others remain longer, Duato led multiple divisions... Who will step down from his role as Executive chairman following a brief period. Forth in our Race for health Equity solely by applicable U.S. laws and governmental regulations is. Point, NY, Alex served six years in the early 2000s ], Duato points.!, MedTech, and consumer health veteran of J & Js 136-year heritage our Legal Notice www.jnj.com on! Wikipedia the language links are at the top latinos leading our nation a sales,. 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