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 former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. 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. To reflect that, HCB Health has become Boundless Life Sciences Group. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? 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. We dont just talk about it, he says. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Our Standards: The Thomson Reuters Trust Principles. Terms & Conditions. 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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Nonetheless, investor goodwill remains strong in the company. 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. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. LinkedIn has officially entered its cringe era, and its working. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. 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 Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. You are now leaving jnj.com. 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. We have to make specific outreach to women on the STEM side. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. Joaquin Duato helped mastermind the health giant's breakup. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. There is no bigger or better known health-care conglomerate in the world. The site youre being redirected to is a branded pharmaceutical website. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. But the new chief executive officerisnt interested in artifacts. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. See here for a complete list of exchanges and delays. 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. "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. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. 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. (Podcast). That diversity gets us closer to our customer base, Duato points out. Please click below to continue to that site. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. 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. 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. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. 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. 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. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . The best ideas and solutions happen when people bring their uniqueness to work with them. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. Any forward-looking statement made in this release speaks only as of the date of this release. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. we must have a workforce that generally reflects that ethnic and . 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. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. 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.. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. As a global company, we were already working around the world, but the pandemic pushed us to leverage our deep scientific expertise and extensive partnerships to take on this challenge. Thats my number one concern.. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Data is a real-time snapshot *Data is delayed at least 15 minutes. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. They opened my mind and made me think about higher goals. "Mr. Duato's international . The current economic situation is "volatile," Duato said, with inflationary headwinds in the supply chain and availability of important raw materials and components, though he said the company's scale as the largest health-care firm helps and the guidance it already provided to the market earlier in the year showed a healthy growth rate in revenue and in earnings per share. You dont have to try too hard to make a human case for mentoring. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. 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 . 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. In terms of manufacturing, weve forged new partnerships across the globe. "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. Xi Jinping Doesnt Love Them Back, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, Iran Schoolgirls Targeted by MorePoison Attacks, Sparking Protests, NFL Loses Bid to Arbitrate Ex-Miami Coachs Race-Bias Claims, EU Seeks to Salvage Combustion-Engine Ban After Germany Balks, Gas Stoves Are One Step Closer to New Rules, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. (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. 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.. Duato will also be appointed to the board following his transition to. Joaquin Duato. Duato grew up in Valencia, Spain. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Your use of the information on this site is subject to the terms of our Legal Notice. [4][5] He also served as interim Chief Information Officer. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. JD: The healthcare industry has undergone massive change. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. 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.". "For the consumer health company, it's going to be an opportunity to deepen the relationships with consumers to attract new investors, to inspire employees, and to be able to have a fit-for-purpose model with their own capital location priorities and then for the new Johnson & Johnson it is going to be an opportunity to be more focused, more competitive and to deliver increased growth," Duato said. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Powered and implemented by Interactive Data Managed Solutions. 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. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. "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. Maya Tsukernik you are amazing, congratulations on a great job!!! Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. I also want to thank Alex for his countless contributions to our Company. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. articles a month for anyone to read, even non-subscribers! 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. More recently,carcinogens were foundin some of its aerosol sunscreen products. He leads a global workforce of 135,000 employees in developing and delivering . 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. FORTUNE may receive compensation for some links to products and services on this website. 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. 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. Mr. Duato originally joined the Company in 1989. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Easy. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. 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 . 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, S&P 500 Slumps to Lowest in Nearly Six Weeks: Markets Wrap, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Visit a quote page and your recently viewed tickers will be displayed here. Salesforce stock jumps 13% after earnings, revenue top estimates. You are now leaving jnj.com. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. 2023 Fortune Media IP Limited. AboutPressCopyrightContact. Mr. Duato, age 59, is currently Vice Chairman of the Company's Executive Committee and provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. J&J declined to make Gorsky and Duato available for comment. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. 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. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. "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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women.
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