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. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. 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. "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. On the edge of Johnson & Johnsons New Brunswick, New Jersey campus, Duato is giving his first sit-down interview from within the companys oldest building, which once produced energy for its factories. Our Standards: The Thomson Reuters Trust Principles. Duato is a dual citizen of Spain and the United States. 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 - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. 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. Previously, Joaquin served as the Vice Chairman of the . Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. Mr. Duato originally joined the Company in 1989. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. They averaged a 15% annual return, in line with the S&P 500 Index. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. "We don't just talk about it," he says. Contact Us with any questions or search this site for more information. A dual citizen of both Spain and the U.S. and the current executive sponsor of Johnson & Johnsons African Ancestry Leadership Council, he assures that going forward, the company will remain committed to diverse thoughts and opinions under his leadership. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. The reader is cautioned not to rely on these forward-looking statements. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. FORTUNE may receive compensation for some links to products and services on this website. Visit a quote page and your recently viewed tickers will be displayed here. "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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. 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. Your use of the information on this site is subject to the terms of our Legal Notice. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. LL: What do we know about vaccine hesitancy in the Latinx community? Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Priority No. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. The world's biggest maker of health care products said late Thursday that Joaquin Duato will become CEO and a member of the company's board of directors on January 3. We want to hear from you. Presenting a business case for devoting extensive time and resources to mentoring is a trickier task but one that Joaquin Duato, this years Healthcare Businesswomens Association Honorable Mentor honoree and EVP, worldwide chairman, pharmaceuticals at Johnson & Johnson, accomplishes with uncanny ease. 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. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. I also want to thank Alex for his countless contributions to our Company. All Rights Reserved. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Gorsky, who has served as CEO and chairman since 2012, will become. 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. Reducing and/or removing logistical barriers for underrepresented populations. "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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. You are now leaving jnj.com. 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. "Overall, we've seen volatility in the consumer demand," Duato said, "but we continue to see very solid consumer business coming through and we continue to try to deliver what is best for consumers and we continue to try to mitigate our cost increases by improving our own efficiency, and in some cases also having price increases but overall, we are bullish about the potential of our consumer health business and about our ability to navigate the inflationary pressures in a way that is optimal for consumers," he said. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. His career in healthcare was influenced by his family. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. (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 . by Caroline Vakil - 08/19/21 7:18 PM ET. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. In his current role, he provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. He leads a global workforce of 135,000 employees in developing and delivering . He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. 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. Joaquin Duato is surrounded by relics of the past. 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. People on the Move: Chris Womack, CEO, Southern Company, People on the Move: CVS Names Shari Slate as SVP, Chief Diversity, Equity and Inclusion Officer, People on the Move: Tarbinlam Lafon, VP, Chief Procurement Officer, Humana, People on the Move: Alice H. Chen, Centenes Chief Health Officer, Women Executives Advice on Changing Up Workplace Demographics. Salesforce stock jumps 13% after earnings, revenue top estimates. As a dual citizen of Spain and the United States, his international perspective and global lens gives him a deep appreciation of diverse thoughts and opinions. We saw a tectonic shift as slow-moving trends went into overdrive. Prior to this role, as Worldwide Chairman, Pharmaceuticals, Joaquin transformed the sector into a global powerhouse by refocusing strategy and investment around core therapeutic areas and areas of greatest unmet need. 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. J&J ranks No. 2. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. Contact Us with any questions or search this site for more information. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. They opened my mind and made me think about higher goals. The site youre being redirected to is a branded pharmaceutical website. 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. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. Early life and education [ edit] Duato grew up in Valencia, Spain. 2023 Fortune Media IP Limited. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. This is the right time for the company as our organization is delivering strong performance across all three segments and is positioned for continued success, in addition to this being the right time for me personally as I focus more on my family due to family health reasons.. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. 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.. 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. 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. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Duato declined to go into legal specifics. Our Credo is clear. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" They created a strong foundation of trust and collaboration and mutual respect.. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Please see our Privacy Policy. Any forward-looking statement made in this release speaks only as of the date of this release. Next Tuesday, when the company is set to reveal its fourth-quarter performance, investors will also be paying attention to what Joaquin Duato, a longtime J&J exec who became CEO earlier this month, has to say about the direction of the company. 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. J&J veteran Duato replaced Gorsky as CEO earlier this year after . There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. . 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. Duato is a dual citizen of Spain and the United States. 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. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. Gorsky, who was at the helm for nine years, will become executive chairman. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Now its a museum parading J&Js 136-year heritage. He lives in Pennsylvania with his wife and has two grown children. Gorsky, whos been at the helm for nine years, will become executive chairman. 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. Pronunciation of Joaquin Duato with 4 audio pronunciations. 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. Leadership Team Michael J. Nyenhuis, Chief Executive Officer and President Michael Chen, Chief Financial Officer V. Rene Cutting, Chief Philanthropy Officer Shelley Diamond, Chief Marketing Officer Michael Klompus, Chief People Officer Jess Leinwand, Chief Legal Officer and General Counsel Cristina Shapiro, President of the Impact Fund for Children Darla Silva, Chief Program He was also appointed to the companys board of directors. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. A Division of NBCUniversal. 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. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. 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. 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. 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 . We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 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. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. 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. Deloitte does not. 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