"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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. All Rights Reserved. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. Duato, 59, has been working for the company for over 30 years. Nonetheless, investor goodwill remains strong in the company. 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Any forward-looking statement made in this release speaks only as of the date of this release. A believer in the power of technology to accelerate progress in healthcare, Joaquin is leading Johnson & Johnson to harness data science and intelligent automation to solve the worlds toughest health challenges. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. 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. Difficult. It's a role that builds on his 33-year career at the company, working across all business sectors and in multiple countries around the globe. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 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. Jan 26, 2023 11:12am. The decision to step aside was one of the most difficult of my career. 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. 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. LL: What do we know about vaccine hesitancy in the Latinx community? Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. 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. 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. Thats my number one concern.. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. 08.23.21. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. FORTUNE may receive compensation for some links to products and services on this 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. Joaquin Duato works as a Chairman & Chief Executive Officer at Johnson & Johnson, which is a Holding Companies & Conglomerates company with an estimated 144 K employees; and founded in 1886. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. His career in healthcare was influenced by his family. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Educating physicians and investigators and working with diverse clinical trial personnel. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. When the COVID-19 pandemic began he oversaw the Companys rapid response to the crisis and drove coordination of global initiatives to safeguard the health of employees, ensure business and supply chain continuity, and accelerate the development of a COVID-19 vaccine. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. Deloitte does not. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. Duato is a dual citizen of Spain and the United States. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? Priority No. Duato will also be appointed as a member of the company's Board of Directors. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. 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. Got a confidential news tip? 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. Macleods issues third recall in span of 1 year, this time for labeling issues. I also want to thank Alex for his countless contributions to our Company. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. 4. 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. #jnj #mycompany #data #innovation Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. 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: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. 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. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. 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. Offers may be subject to change without notice. "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. 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. 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.. As Vice Chairman of the Executive Committee, he provides . Mr. Duato JNJ stock SEC Form 4 insiders trading. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. He started at the company in 1989, working in sales in his home country of Spain. 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. We saw a tectonic shift as slow-moving trends went into overdrive. He added that he saw a profound impact of Johnson & Johnsons medicines over his 30-year career with the company, which includes investment in research and development and drove global advances in healthcare over the past decade. 2023 Fortune Media IP Limited. Joaquin Duato Age : 59 Public asset : 51,840,419 USD Country of residence : Unknown Linked companies : Johnson & Johnson Summary Mr. Joaquin Duato is a Chairman & Chief Executive Officer at Johnson & Johnson. Gorsky, who has served as CEO and chairman since 2012, will become. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. 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. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. Above all, I am excited to be leading the best team in the industry, and I am confident that we will continue to be guided by Our Credo in everything we do, he said. You are now leaving jnj.com. 1. 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. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. 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. (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. Joaquin Duato Chairman of the Board and Chief Executive Officer New Brunswick, New Jersey, United States 38K followers 500+ connections Join to follow Johnson & Johnson Esade About I believe that. Joaquin Duato is surrounded by relics of the past. 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. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter., Mr. Duato said, Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnsons success. 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. All Rights Reserved. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. You dont have to try too hard to make a human case for mentoring. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Our Credo is clear. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Contact Us with any questions or search this site for more information. Duato is the only major health industry CEO who has served as chief information officer. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. Sign up for free newsletters and get more CNBC delivered to your inbox. 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 . Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. From 2018, he added responsibilities for the company's consumer business,. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. CVS and Walgreens confirmed last month that their pharmacies were limiting the. Joaquin Duato (born April 1962) is a Spanish-American business executive. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Terms & Conditions. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. The reader is cautioned not to rely on these forward-looking statements. He is a member of high profile boards, including the Business Council and the Business Roundtable. Joaquin Duato, who led J&J's pharmaceuticals business before becoming a Gorsky deputy, will become chief executive and join the company's board of directors. See also:Healthcare marketers still pushing to address the gender gap. According to a recent Kaiser Family Foundation study, 75% of Hispanic adults trust their healthcare provider to give them reliable information about the available vaccines. 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. J&J veteran Duato replaced Gorsky as CEO earlier this year after . Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. They averaged a 15% annual return, in line with the S&P 500 Index. 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. About 64% of Hispanic adults now say theyve either gotten at least one dose of the vaccine or will get it as soon as they can. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Duato grew up in Valencia, Spain. Visit a quote page and your recently viewed tickers will be displayed here. 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. 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