"We understand that we have a reputation. FORTUNE may receive compensation for some links to products and services on this website. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. That diversity gets us closer to our customer base, Duato points out. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. 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. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. In his current role, he provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". 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. Contact Us with any questions or search this site for more information. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. Were only able to tackle this problem at home if we address it worldwide. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Alex Gorsky to Step Down After 30-Year Career at Johnson & Johnson, Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. 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. 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. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. 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. 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. "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. The largest trade he's ever made was exercising 148,538 units of Johnson & Johnson stock on 17 January 2023 worth over $10,774,947. 4. The site youre being redirected to is a branded pharmaceutical website. 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. 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. "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. At Johnson & Johnson, we respect the diversity and dignity of every individual and we must use our position to not only speak out, but to take action. All Rights Reserved. Recent surveys show Black and Hispanic adults are more likely to take a wait and see approach to getting a COVID-19 vaccine, but are also as likely as white adults to say they definitely will not take one. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. Duato, 59, has been working for the company for over 30 years. We dont just talk about it, he says. Jan 26, 2023 09:15am. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. From 2018, he added responsibilities for the company's consumer business,. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Gorsky, the . From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Duato will also be appointed to the board following his transition to. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its 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. AboutPressCopyrightContact. LL: Why is it important to have collaboration among the global public health community in times of crises? The best ideas and solutions happen when people bring their uniqueness to work with them. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. It is influenced by factors such as confidence, convenience and complacency. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. 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. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Duato is trilingual, speaking English, Spanish, and Italian. "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. Romaine Bostick breaks down the day's top stories and trading action leading into the close. J&J declined to make Gorsky and Duato available for comment. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. The site youre being redirected to is a branded pharmaceutical website. JD: The healthcare industry has undergone massive change. Now its a museum parading J&Js 136-year heritage. (18 votes) Very easy. LL: What do we know about vaccine hesitancy in the Latinx community? He leads a global workforce of 135,000 employees in developing and delivering . They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Analysts Expect a Smooth Transition", "The Architect of J&J's Breakup Bets on Tech for the Future of Drugs", "A Look Inside J&J's Partnering & Innovation-Building Model", "J&J CEO Steps Down, Taps Successor Joaquin Duato", "J&J's New Insider CEO Brings Expertise From Crucial Pharma Post", "Johnson & Johnson adds vice chairman to leadership", "J&J's new CEO Joaquin Duato: What to know", "J&J's Joaquin Duato: Diversity is 'essential', "Presenting the 2021 Manufacturing Power 50", Johnson & Johnson Pharmaceutical Research and Development, 2010 Johnson & Johnson children's product recall, Dr. Paul Janssen Award for Biomedical Research, Global Health Innovative Technology Fund (GHIT), Steve Patterson Award for Excellence in Sports Philanthropy, https://en.wikipedia.org/w/index.php?title=Joaquin_Duato&oldid=1125964304, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 6 December 2022, at 20:42. I would like to express my deep appreciation to every employee, past and present, for their steadfast commitment to bringing our Credo to life every day and to improving the well-being of those who rely on us. 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. LinkedIn has officially entered its cringe era, and its working. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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.. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. All Rights Reserved. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. All quotes delayed a minimum of 15 minutes. 1, Duato told CNBC's Meg Tirrell at Healthy Returns on Wednesday, is the opportunity "to create more progress in health in this decade than we have seen in the last 100 years.". 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. You are now leaving jnj.com. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Duato is a dual citizen of Spain and the United States. 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 blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . 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. Moderate. He was also appointed to the companys board of directors. We have to make specific outreach to women on the STEM side. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. "Mr. Duato's international . J&J veteran Duato replaced Gorsky as CEO earlier this year after . Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. Before becoming CEO in 2022, Joaquin served as Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceuticals and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. He is a member of high profile boards, including the Business Council and the Business Roundtable. (Podcast). 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 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. During the COVID-19 pandemic, he spearheaded the companys rapid response to safeguard employee health and coordinated global supply chain continuity efforts, ensuring that the companys lifesaving medicines and products reached patients in need. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. He started at the company in 1989, working in sales in his home country of Spain. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 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. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. 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. 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Prior to that time, he held senior leadership positions over his 30-plus year career with the Company across multiple business sectors, geographics and functions. 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. In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. 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. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. 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. 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 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. His career in healthcare was influenced by his family. Educating physicians and investigators and working with diverse clinical trial personnel. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Continue reading your article with. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. "I see a future in which all medical devices would be smarter, connected to the cloud, being able to provide data to the surgeons for them to be able to in real time deliver better surgical outcomes," he said. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. (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 . JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. 1. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. 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