He was also appointed to the companys board of directors. 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. All Rights Reserved. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. LL: What was the basis for J&J to pursue emergency use authorization? 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. To reflect that, HCB Health has become Boundless Life Sciences Group. It is influenced by factors such as confidence, convenience and complacency. 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. 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. Please click below to continue to that site. Wow, what an awesome event with such wonderful people! Pharma. A Division of NBCUniversal. AboutPressCopyrightContact. And while Duato isnt the type of leader who preaches from a soapbox, he believes that pharma needs to prioritize mentoring especially of top-flight women scientists far more than other industries do. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Get this delivered to your inbox, and more info about our products and services. 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. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. 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. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. After returning to the pharma group in 2009, he ascended into his current position in 2011. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. LL: What do we know about vaccine hesitancy in the Latinx community? All Rights Reserved. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Very difficult. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Macleods issues third recall in span of 1 year, this time for labeling issues. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. JD: The virus does not recognize borders. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. All rights reserved. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. We have to make specific outreach to women on the STEM side. 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. That is why I believe. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. Pronunciation of Joaquin Duato with 4 audio pronunciations. LL: Why is it important to have collaboration among the global public health community in times of crises? Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. 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. 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 leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). "We understand that we have a reputation. We walk the walk.. Visit a quote page and your recently viewed tickers will be displayed here. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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. 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. 1. 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. Got a confidential news tip? Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. The shot is still seen as important to fighting the pandemic, and J&J is working to ramp up supply through the end of the year. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnsons opportunity to play a key role in meaningfully improving the global trajectory of human health, he said. 3 /5. I also want to thank Alex for his countless contributions to our Company. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Create your free account or log in to continue reading this premium content. Any forward-looking statement made in this release speaks only as of the date of this release. Risk Factors, in the Companys most recently filed Quarterly Report on Form 10-Q and the Companys subsequent filings with the Securities and Exchange Commission. 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. But the new chief executive officerisnt interested in artifacts. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. There is no bigger or better known health-care conglomerate in the world. 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. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. Duato, the first non-U.S. born CEO for the company, and first to hold dual citizenship (Spain and U.S.), has been with J&J for three decades and was at one point the company's chief information officer, giving him key insights into the role of technology in health care. But the 61-year-old cited family health reasons as partially motivating his departure. 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. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. 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. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Easy. 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. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. "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, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Aug 19, 2021 11:00PM EDT. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. (18 votes) Very easy. Its very important both in talent recruitment and in retention.. 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. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. "We don't just talk about it," he says. . We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 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. 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. "Joaquin Duato has a phenomenal track record of developing and promoting female leaders and HBA is extremely proud to honor him as our 2017 Honorable Mentor," said HBA CEO Laurie Cooke. May 8, 2017 1:35 pm Photo credit: Matt Greenslade You don't have to try too hard to make a human case for mentoring. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. 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. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Priority No. 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. Yet Duato plotted to rid itof itsconsumer-products legacy. Jan 26, 2023 09:15am. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . [8], Joaquin Duato is a board member of the U.S. Spain Council and previously served on boards with UNICEF USA, Tsinghua University School of Pharmaceutical Sciences, and the Hess Corporation. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. 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. (Podcast). The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. It was solely about personal and professional growth, not about getting the next job. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. 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. "We don't just talk about it," he says. That diversity gets us closer to our customer base, Duato points out. Offers may be subject to change without notice. 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. His career in healthcare was influenced by his family. 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 . During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. All quotes delayed a minimum of 15 minutes. See also:Healthcare marketers still pushing to address the gender gap. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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. Aug 19 (Reuters) - Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. Now its a museum parading J&Js 136-year heritage. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Please click below to continue to that site. He lives in Pennsylvania with his wife and has two grown children. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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 . Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. (Reuters) -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 . 2023 Fortune Media IP Limited. 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. Pronunciation of Joaquin: Learn how to pronounce the word Joaquin.Definition and meaning can be found here: https://www.google.com/search?q=define+JoaquinThe. Educating physicians and investigators and working with diverse clinical trial personnel. Difficult. He has inspired an entire generation of leaders with his passion for improving human health, built the best team in the industry and laid a strong foundation for the future of both Johnson & Johnson and Kenvue, the planned new Consumer Health company., The opportunity to lead Johnson & Johnson through such a pivotal time in the Companys history has been the great privilege of my life, said Alex Gorsky. Gorsky, who was at the helm for nine years, will become executive chairman. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? CVS and Walgreens confirmed last month that their pharmacies were limiting the. We saw a tectonic shift as slow-moving trends went into overdrive. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Joaquin Duato helped mastermind the health giant's breakup. The decision to step aside was one of the most difficult of my career. From 2018, he added responsibilities for the company's consumer business,. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. Please see our Privacy Policy. 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. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. 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. "All of them are providing significant improvements in the standard of care, and at the same time, all of them with more than a billion-dollar potential," he said. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. Duato, 59, has been working for the company for over 30 years. Duato, 59, will take the role effective Jan. 3 when he will also take a seat on the company's board, J&J said in a statement late Thursday. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. "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. 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. Were only able to tackle this problem at home if we address it worldwide. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. This site is governed solely by applicable U.S. laws and governmental regulations. #jnj #mycompany #data #innovation [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. 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