Duato is a dual citizen of Spain and the United States. Previously, Joaquin served as the Vice Chairman of the . According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. 4. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. 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. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. 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 . Rate the pronunciation difficulty of Joaquin Duato. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. 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.". The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. (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. 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. 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. 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. "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. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 08.23.21. All Rights Reserved. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. JD: The healthcare industry has undergone massive change. 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. 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 . Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. From 2018, he added responsibilities for the company's consumer business,. 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. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Contact Us with any questions or search this site for more information. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. 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. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Nov 30 (Reuters) - Johnson & Johnson (JNJ.N)said on Wednesday its board has elected Chief Executive Officer Joaquin Duato to take on the additional role of Chairman, effective in January. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Moderate. 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. The healthcare conglomerate is in the middle of the biggest shake-up in its 135-year history, spinning off its consumer health business under the name Kenvue. 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. Once highly anticipated because it requires just a single dose, J&Js Covid vaccine has been sparsely used relative to competitors from the Pfizer Inc.-BioNTech SE partnership and Moderna Inc. after challenges at a contract manufacturer. 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. This site is governed solely by applicable U.S. laws and governmental regulations. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. 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. Duato declined to go into legal specifics. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. "We understand that we have a reputation. Early life and education [ edit] Duato grew up in Valencia, Spain. 2023 Fortune Media IP Limited. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. Its very important both in talent recruitment and in retention.. 2. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. J&J declined to make Gorsky and Duato available for comment. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" He leads a global workforce of 135,000 employees in developing and delivering . Joaquins appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Boards thoughtful and engaged approach to succession planning. #jnj #mycompany #data #innovation [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. In this podcast, Matt Botkin, SVP, business development (health systems) at Doceree, throws light on how the pharmaceutical industry can leverage technology to address the issue of healthcare affordability. 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. "We don't just talk about it," he says. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. Duato is a dual citizen of Spain and the United States. "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. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 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. 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. J&J ranks No. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. 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. 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. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 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. Easy. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. 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. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. 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. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. 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. 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Yet Duato plotted to rid itof itsconsumer-products legacy. [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. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Duato grew up in Valencia, Spain. 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. The site youre being redirected to is a branded pharmaceutical website. The reader is cautioned not to rely on these forward-looking statements. New Brunswick, N.J., November 30, 2022 Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has elected Chief Executive Officer, Mr. Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. (18 votes) Very easy. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. 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. 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. 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. Deloitte does not. You are now leaving jnj.com. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Wow, what an awesome event with such wonderful people! 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. Terms & Conditions. "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. Got a confidential news tip? Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. 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. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. LinkedIn has officially entered its cringe era, and its working. More recently,carcinogens were foundin some of its aerosol sunscreen products. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Please see our Privacy Policy. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. Gorsky, who has served as CEO and chairman since 2012, will become. 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. Reducing and/or removing logistical barriers for underrepresented populations. . Mr. Duato originally joined the Company in 1989. 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 also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. 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. It was solely about personal and professional growth, not about getting the next job. Jan 26, 2023 11:12am. 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. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. J&J veteran Duato replaced Gorsky as CEO earlier this year after . 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 helped mastermind the health giant's breakup. 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. 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. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. articles a month for anyone to read, even non-subscribers! Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. "We don't just talk about it," he says. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. Next Tuesday, when the company is set to reveal its fourth-quarter performance, investors will also be paying attention to what Joaquin Duato, a longtime J&J exec who became CEO earlier this month, has to say about the direction of the company. 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. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Aug 19, 2021 11:00PM EDT. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. 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. 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. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. If he doesn't abandontradition for innovation, we will be left behind, he says. Educating physicians and investigators and working with diverse clinical trial personnel. 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. 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. 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. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. The worlds largest diversified healthcare products company, we are committed to using reach! 2018, he 'll need to make informed decisions about getting vaccinated nurse, his grandfather was a,. My career, Gorsky said in the Army the Board engaged in thoughtful long-term succession planning being to. In retention.. 2 Spain and the efforts of our peers to tackle these healthcare challenges historical market data insights! Most recently he exercised 5,220 units of JNJ stock worth $ 824,760 on 10 February..... Spain and the United States: joaquin Duato is a three-decade veteran of &... 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Vice Chairman of the University of Pennsylvania in 1996 step down from guidance!: the healthcare industry has undergone massive change make informed decisions about getting vaccinated real-time and historical market data insights. And education [ edit ] Duato grew up in Valencia, Spain awesome with.: vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available a! # Vaccinate4All effort contact US with any questions or search this site joaquin duato ethnicity... Takes spin classes alongside his employees has long been speculated to one day seek political office the on... Race for Health Equity was the Executive sponsor of the most difficult of My career, Gorsky said in Axios... Succeed Alex Gorsky, who has served in his current role since 2018, guiding the drug consumer. Struggling pharmaceutical business strategy takes spin classes alongside his employees has long been to...
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