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. 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 . 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. 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. Related: For more recent diversity and inclusion news, click here. 2023 Fortune Media IP Limited. 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. 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. Easy. This site is governed solely by applicable U.S. laws and governmental regulations. (Podcast). These statements are based on current expectations of future events. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Early life and education [ edit] Duato grew up in Valencia, Spain. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. 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. 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. 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. 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 has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. 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.". He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Previously, Joaquin served as the Vice Chairman of the . Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. 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.. 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. They closed at a record high of $179.47 Tuesday, buoyed by the companys portfolio of cancer and immunology drugs as patients return to hospitals after lockdown. As Vice Chairman of the Executive Committee, he provides . Please see our Privacy Policy. It is extremely important for us to collaborate worldwide to help combat this disease. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. On this Wikipedia the language links are at the top of the page across from the article title. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. Mr. Duato originally joined the Company in 1989. "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. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. 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. 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. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since 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.. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". 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"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. Visit a quote page and your recently viewed tickers will be displayed here. Your use of the information on this site is subject to the terms of our Legal Notice. 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. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. by Caroline Vakil - 08/19/21 7:18 PM ET. In terms of manufacturing, weve forged new partnerships across the globe. 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. 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. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Joaquin Duato is surrounded by relics of the past. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. Evolution in the healthcare marketing and communications space requires an agile team that is solutions oriented and sees beyond barriers with a how can it be done mindset. We know that Joaquin is single at this point. Continue reading your article with. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Joaquin Duato (born April 1962) is a Spanish-American business executive. 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. 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. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. Please click below to continue to that site. CVS and Walgreens confirmed last month that their pharmacies were limiting the. JD: The virus does not recognize borders. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. FORTUNE may receive compensation for some links to products and services on this website. All rights reserved. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. JD: The healthcare industry has undergone massive change. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. Educating physicians and investigators and working with diverse clinical trial personnel. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? He started at the company in 1989, working in sales in his home country of Spain. Gorsky, the . 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. You dont have to try too hard to make a human case for mentoring. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. 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. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. The disease itself took a disproportionate toll on the Black, Latinx, Indigenous and Pacific Islander communities and it forced us to revisit the way we address and provide equitable care. You are now leaving jnj.com. Its very important both in talent recruitment and in retention.. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. Duato is trilingual, speaking English, Spanish, and Italian. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . We have to make specific outreach to women on the STEM side. They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. articles a month for anyone to read, even non-subscribers! 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. 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. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. [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. Anne Mulcahy, J&Js lead independent director, said the board engaged in thoughtful long-term succession planning. She described Duato as an effective and committed leader who has been critical to the companys growth. J&J declined to make Gorsky and Duato available for comment. Duato is a dual citizen of Spain and the United States. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. Deloitte does not. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. 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. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Jan 26, 2023 09:15am. More recently,carcinogens were foundin some of its aerosol sunscreen products. In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Companys business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. 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. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Duato is the only major health industry CEO who has served as chief information officer. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. "Mr. Duato's international . Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Get this delivered to your inbox, and more info about our products and services. Powered and implemented by Interactive Data Managed Solutions. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Got a confidential news tip? 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. 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