[2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Rate the pronunciation difficulty of Joaquin Duato. 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. LL: Why is it important to have collaboration among the global public health community in times of crises? He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Got a confidential news tip? 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. 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. Moderate. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. 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. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Wow, what an awesome event with such wonderful people! Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Offers may be subject to change without notice. "Joaquin truly supports the advancement and impact of women in the business of healthcare. Any forward-looking statement made in this release speaks only as of the date of this release. 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. Please see our Privacy Policy. Duato is a dual citizen of Spain and the United States. 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. 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. Get this delivered to your inbox, and more info about our products and services. 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. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Duato will also be appointed as a member of the company's Board of Directors. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Joaquin Duato 6d Data science and digital health have transformed how Johnson & Johnson innovates, enabling us to bring life-changing science to patients faster than ever. 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. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. JD: With our ENSEMBLE COVID-19 vaccine clinical trial, we employed intentional focus and purposeful tracking in the clinical trial design and experience, which allowed us to achieve our enrollment targets within populations disproportionately affected by the COVID-19 pandemic. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. 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 leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. You dont have to try too hard to make a human case for mentoring. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. All Rights Reserved. Duato, 59, has been working for the company for over 30 years. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. 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. Duato is the only major health industry CEO who has served as chief information officer. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Johnson & Johnson JNJ has long been viewed as a bellwether stock for other health care companies, given its early slot in the earnings calendar and a business model that spans everything from hip implants to rheumatoid arthritis drugs and Band-Aids. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. (18 votes) Very easy. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. 2023 CNBC LLC. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. . Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. Were only able to tackle this problem at home if we address it worldwide. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. As Vice Chairman of the Executive Committee, he provides . Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. JD: The virus does not recognize borders. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 08.23.21. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. The vaccine technology platform was designed to help the global health community better prepare for and combat life threatening infectious disease outbreaks and aided in the accelerated development of vaccines. 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. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. 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. Our Standards: The Thomson Reuters Trust Principles. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. 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. 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.. All quotes delayed a minimum of 15 minutes. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Supporting frontline health workers: In 2020, the Johnson & Johnson Family of Companies and the Johnson & Johnson Foundation committed $50 million to support frontline health workers. The best ideas and solutions happen when people bring their uniqueness to work with them. "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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. A Division of NBCUniversal. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . A dual citizen of both Spain and the U.S. and the current executive sponsor of Johnson & Johnsons African Ancestry Leadership Council, he assures that going forward, the company will remain committed to diverse thoughts and opinions under his leadership. We know that Joaquin is single at this point. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. To reflect that, HCB Health has become Boundless Life Sciences Group. We saw a tectonic shift as slow-moving trends went into overdrive. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. 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. 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. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . JD: The healthcare industry has undergone massive change. Very difficult. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. 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. Pharma. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. 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. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. 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. Gorsky, the . [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. His career in healthcare was influenced by his family. 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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.. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. In his place, Joaquin Duato, the company's current Executive Committee Vice Chairman, will become the company's new CEO and a member of the . I believe that moving forward, we will take the lessons we have learned from the COVID-19 pandemic humanitarian crisis as we look to consider and prioritize the health of all communities, patients, consumers, and their families. Duato doesnt overtly attribute Johnson & Johnsons enduring success to its organizational makeup, but he doesnt downplay its importance the same way many other pharma higher-ups do, either. "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. 3 /5. From 2018, he added responsibilities for the company's consumer business,. The rules of the past no longer apply after the seismic events of the past three years. Now vice chairman of the executive committee, Duato will take the reins effective Jan. 3 and take a seat on the companys board, J&J said in a statement late Thursday. They averaged a 15% annual return, in line with the S&P 500 Index. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. He currently sits on the boards ofUNICEF USA, Tsinghua University School of Pharmaceutical Sciences and Hess Corp. Shares of New Brunswick, New Jersey-based J&J were little changed in trading after U.S. markets closed. People on the Move: Chris Womack, CEO, Southern Company, People on the Move: CVS Names Shari Slate as SVP, Chief Diversity, Equity and Inclusion Officer, People on the Move: Tarbinlam Lafon, VP, Chief Procurement Officer, Humana, People on the Move: Alice H. Chen, Centenes Chief Health Officer, Women Executives Advice on Changing Up Workplace Demographics. Our Credo is clear. 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. 4. 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. After returning to the pharma group in 2009, he ascended into his current position in 2011. Joaquin Duato (born April 1962) is a Spanish-American business executive. 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. 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. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. Joaquin has long believed in the power of technology to accelerate progress in healthcare. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Please click below to continue to that site. "We don't just talk about it," he says. Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. 2. These statements are based on current expectations of future events. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. 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. 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. Please see our Privacy Policy. That was a better performance than rival drugmakers Pfizer Inc. and Merck & Co., though health-care investors who opted for high-flying biotech stocks did better the Nasdaq Biotechnology Index quadrupled in that span. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Visit a quote page and your recently viewed tickers will be displayed here. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. "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. The site youre being redirected to is a branded pharmaceutical website. 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. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. Continue reading your article with. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. He started at the company in 1989, working in sales in his home country of Spain. "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. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Lilly to cut some list prices by 70% and offer $25 insulin, GSK catches up with Pfizer in RSV vaccine race after FDA panel's backing, Reporting by Leroy Leo in Bengaluru; Editing by Krishna Chandra Eluri, China scoffs at FBI claim that Wuhan lab leak likely caused COVID pandemic, 'Havana syndrome' not caused by foreign adversary, U.S. intel finds, EU silence over Pfizer COVID contract talks is problem that won't go away -watchdog, Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Delta pilots ratify new contract, raise 'the bar' for rival airlines, South African scientists use bugs in war against water hyacinth weed, Oil settled up as rising supplies face Chinese demand hopes, How Elon Musk has missed his targets on delivering affordable cars, Exclusive news, data and analytics for financial market professionals. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Joaquin Duato is best known for driving the transformation of Johnson & Johnson's 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. Help answer questions and dispel myths about vaccines a publicly-traded company in 1989 working! How healthcare improved patients lives vaccinated, and as quickly as possible Joaquins international perspective him... Myths about vaccines understand the individual and what strengths they have, the ones that make the person and. To convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough and fevers! Least 15 minutes a change in leadership coming at the helm for nine,! Amp ; Johnson, an American multinational conglomerate 15 minutes info about our products and services work them. As some pressures alleviate this year but others remain longer, Duato began his Johnson & Johnson serves [ ]! 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