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. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. (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. Gorsky, who was at the helm for nine years, will become executive chairman. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Johnson & Johnson has faced multiple lawsuits over products and medical devices, fromtalc to hip replacement and opioids, which have resulted in significant financial settlements, without any admission of wrongdoing, as well as ongoing litigation. This site is governed solely by applicable U.S. laws and governmental regulations. 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. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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.. 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. The site youre being redirected to is a branded pharmaceutical website. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Gorsky, whos been at the helm for nine years, will become executive chairman. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Terms & Conditions. JD: The healthcare industry has undergone massive change. CVS and Walgreens confirmed last month that their pharmacies were limiting the. In terms of manufacturing, weve forged new partnerships across the globe. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . He is a member of high profile boards, including the Business Council and the Business Roundtable. LinkedIn has officially entered its cringe era, and its working. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. 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. He champions the integration of data science, intelligent automation and new technologies to solve complex biomedical research and business operation challenges with maximum speed and efficiency. 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. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. 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. The best ideas and solutions happen when people bring their uniqueness to work with them. 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. JD: The virus does not recognize borders. 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. 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. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. 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.. 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. 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. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. It is influenced by factors such as confidence, convenience and complacency. 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. 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 is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. As a dual citizen of Spain and the United States, his international perspective and global lens gives him a deep appreciation of diverse thoughts and opinions. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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. Chairman of the Board and Chief Executive Officer. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. 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. 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 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. Duato is trilingual, speaking English, Spanish, and Italian. 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. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. "Mr. Duato's international . 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. Offers may be subject to change without notice. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. They averaged a 15% annual return, in line with the S&P 500 Index. 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. LL: What do we know about vaccine hesitancy in the Latinx community? 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. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. 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. 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. Jan 26, 2023 09:15am. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Mr. Duato originally joined the Company in 1989. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . 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 . Jan 26, 2023 11:12am. While Duato doesnt share specific experiences or anecdotes, he notes that being mentored was hugely important to his development as both a professional and a person and that every one of his mentors along the way happened to be women. Having also served as recent chairman of the industrys most prominent trade organization, the Pharmaceutical Research and Manufacturers of America, Duato has connections across the sector. 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. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. 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. 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. , geographies and functions Johnson able to develop a vaccine in an accelerated while... 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