AboutPressCopyrightContact. 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. 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. 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. 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. 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. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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 . (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 . Johnson & Johnson, which is a bellwether in the health-care sector for hospital surgeries and procedures, has seen Covid pressure the overall business, but the CEO noted ahead of the upcoming earnings season that it did see good performance in its medical device business in 2021, with close to 16% growth, even as Covid weighed on activity and in particular, elective procedures. [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. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Previously, Joaquin served as the Vice Chairman of the . Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. 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.. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. "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. Yet Duato plotted to rid itof itsconsumer-products legacy. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&Js drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become the powerhouse that it is today. See here for a complete list of exchanges and delays. Pronunciation of Joaquin Duato with 4 audio pronunciations. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . 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. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Gorsky, who has served as CEO and chairman since 2012, will become. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Contact Us with any questions or search this site for more information. 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. 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. As Vice Chairman of the Executive Committee, he provides . El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. 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. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. We know that Joaquin is single at this point. J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Representation and inclusion is part of our DNA. Romaine Bostick breaks down the day's top stories and trading action leading into the close. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. These statements are based on current expectations of future events. 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. 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. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. LinkedIn has officially entered its cringe era, and its working. 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. 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. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. 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. The reader is cautioned not to rely on these forward-looking statements. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. 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. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. The decision to step aside was one of the most difficult of my career. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. Duato will also be appointed as a member of the company's Board of Directors. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned Cautionary Note Regarding Forward-Looking Statements and Item 1A. 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.". 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. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. J&J ranks No. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. If Johnson & Johnsons pharma group were a stand-alone company, it would likely rank as either the fifth- or sixth-largest pharma organization in the world. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. You are now leaving jnj.com. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Wow, what an awesome event with such wonderful people! 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. Mr. Duato JNJ stock SEC Form 4 insiders trading. I also want to thank Alex for his countless contributions to our Company. A Division of NBCUniversal. 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. All Rights Reserved. FORTUNE may receive compensation for some links to products and services on this website. 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. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . 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. "Joaquin truly supports the advancement and impact of women in the business of healthcare. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Duato is committed to nurturing a diverse, equitable and inclusive workplace as J&J continues to develop medicines to transform the lives of patients around the world. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. 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. 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. Our Standards: The Thomson Reuters Trust Principles. 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. But the new chief executive officerisnt interested in artifacts. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Terms & Conditions. Nonetheless, investor goodwill remains strong in the company. We have to make specific outreach to women on the STEM side. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. In September 2020, Janssen signed the vaccine maker pledgeto promise the public that decisions around the potential use of our vaccine candidate will be based purely on science and pre-existing guidelines from health authorities around the world. This site is governed solely by applicable U.S. laws and governmental regulations. We saw a tectonic shift as slow-moving trends went into overdrive. 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. Create your free account or log in to continue reading this premium content. Very difficult. 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.. 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. 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 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 2. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. Duato is trilingual, speaking English, Spanish, and Italian. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. All Rights Reserved. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. Joaquin Duato is surrounded by relics of the past. CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. Got a confidential news tip? 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. . 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. 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. 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. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. Duato is a dual citizen of Spain and the United States. Negatively influence vaccination uptake and contribute to vaccine hesitancy crucial moment, our society as. 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