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. Gorsky said Duato oversaw Johnson & Johnsons response to the COVID-19 pandemic and led the coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity.. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. 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. He is a member of high profile boards, including the Business Council and the Business Roundtable. 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. 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. Joaquin Duato. 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. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. 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. But the new chief executive officerisnt interested in artifacts. 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. 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. You are now leaving jnj.com. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. Offers may be subject to change without notice. Powered and implemented by Interactive Data Managed Solutions. 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. Visit a quote page and your recently viewed tickers will be displayed here. From 2018, he added responsibilities for the company's consumer business,. 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 . Moderate. 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. 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. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. To reflect that, HCB Health has become Boundless Life Sciences Group. "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. 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. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Ms. Taubert owns over 76,923 units of Johnson & Johnson stock worth over $35,709,285 and over the last 4 years she sold JNJ stock worth over $0. Create your free account or log in to continue reading this premium content. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Please see our Privacy Policy. 4. Continue reading your article with. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. 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. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Aug 19, 2021 11:00PM EDT. 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 . 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. 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. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. "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. Our Standards: The Thomson Reuters Trust Principles. It was solely about personal and professional growth, not about getting the next job. They averaged a 15% annual return, in line with the S&P 500 Index. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. JD: The virus does not recognize borders. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Your use of the information on this site is subject to the terms of our Legal Notice. 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. 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 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. J&J declined to make Gorsky and Duato available for comment. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. 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. "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. "We don't just talk about it," he says. As J&J prepares to split into two companies, Duato said that separating the consumer brands like Band-Aid, Tylenol, Neutrogena and Listerine from medical technology and pharmaceuticals will help the company be at the forefront of surgical techniques that transform health care. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. The reader is cautioned not to rely on these forward-looking statements. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Early life and education [ edit] Duato grew up in Valencia, Spain. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Joaquin has long believed in the power of technology to accelerate progress in healthcare. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. If he doesn't abandontradition for innovation, we will be left behind, he says. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. 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. Got a confidential news tip? . Gorsky, the . Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. Romaine Bostick breaks down the day's top stories and trading action leading into the close. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . (18 votes) Very easy. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. 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. With these additions to our global manufacturing network, we are committed to delivering 100 million single-shot doses of our COVID-19 vaccine to the U.S. government, and delivering 200 million doses to the European Union, Norway and Iceland. 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. (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. Representation and inclusion is part of our DNA. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. 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.. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. We believe we have a responsibility to step in and invest in solutions for global public health crises, and we are proud to be contributing to the global COVID-19 response. 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. As Vice Chairman of the Executive Committee, he provides . Please click below to continue to that site. Your use of the information on this site is subject to the terms of our Legal Notice. Related: For more recent diversity and inclusion news, click here. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&J's drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become. 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. 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. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. 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. 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. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. You should view the News section and the most recent SEC Filings in the Investor section in order to receive the most current information made available by Johnson & Johnson Services, Inc. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. His career in healthcare was influenced by his family. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. 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. That is why I believe. We saw a tectonic shift as slow-moving trends went into overdrive. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Joaquin Duato is surrounded by relics of the past. As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnsons opportunity to play a key role in meaningfully improving the global trajectory of human health, he said. 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. 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. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. 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. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. J&J veteran Duato replaced Gorsky as CEO earlier this year after . FORTUNE may receive compensation for some links to products and services on this website. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 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 About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. 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. Duato is a dual citizen of Spain and the United States. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. This site is governed solely by applicable U.S. laws and governmental regulations. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. 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. Salesforce stock jumps 13% after earnings, revenue top estimates. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. A Division of NBCUniversal. 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. We want to hear from you. 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. The industry leader for online information for tax, accounting and finance professionals. 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. The decision to step aside was one of the most difficult of my career. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Duato will also be appointed to the board following his transition to. 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