JD: The healthcare industry has undergone massive change. 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. Our Credo is clear. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. (RTTNews) - Johnson & Johnson said that its vice chairman, Joaquin Duato, will become chief executive officer of the company on 3rd January 2022, with Chairman and chief . Mr. Duato originally joined the Company in 1989. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Any forward-looking statement made in this release speaks only as of the date of this release. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Create your free account or log in to continue reading this premium content. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? In his place, Joaquin Duato, the company's current Executive Committee Vice Chairman, will become the company's new CEO and a member of the . Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. All rights reserved. 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. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. 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. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. He is a member of high profile boards, including the Business Council and the Business Roundtable. You are now leaving jnj.com. On the edge of Johnson & Johnsons New Brunswick, New Jersey campus, Duato is giving his first sit-down interview from within the companys oldest building, which once produced energy for its factories. 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. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Leadership Team Michael J. Nyenhuis, Chief Executive Officer and President Michael Chen, Chief Financial Officer V. Rene Cutting, Chief Philanthropy Officer Shelley Diamond, Chief Marketing Officer Michael Klompus, Chief People Officer Jess Leinwand, Chief Legal Officer and General Counsel Cristina Shapiro, President of the Impact Fund for Children Darla Silva, Chief Program This site is governed solely by applicable U.S. laws and governmental regulations. 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.. 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. 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 have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. 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. 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. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Please see our Privacy Policy. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. Jan 26, 2023 11:12am. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. 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.". Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. See here for a complete list of exchanges and delays. Duato grew up in Valencia, Spain. Your use of the information on this site is subject to the terms of our Legal Notice. 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. Early life and education [ edit] Duato grew up in Valencia, Spain. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. 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. 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Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Duato is committed to nurturing a diverse, equitable and inclusive workplace as J&J continues to develop medicines to transform the lives of patients around the world. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. 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. "Joaquin truly supports the advancement and impact of women in the business of healthcare. See also:Healthcare marketers still pushing to address the gender gap. I can trace the most important turning points in my career like moving from Europe to the U.S., or moving from pharma into medical devices to having a strong female mentor who supported me, he says. 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. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. 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. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. There is no bigger or better known health-care conglomerate in the world. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 3 /5. 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, who led J&J's pharmaceuticals business before becoming a Gorsky deputy, will become chief executive and join the company's board of directors. "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. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. 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.. Aug 19, 2021 11:00PM EDT. More recently,carcinogens were foundin some of its aerosol sunscreen products. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Maya Tsukernik you are amazing, congratulations on a great job!!! We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. 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. 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. As Vice Chairman of the Executive Committee, he provides . I also want to thank Alex for his countless contributions to our Company. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. All quotes delayed a minimum of 15 minutes. He was also appointed to the companys board of directors. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Duato is a dual citizen of Spain and the United States. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. by Caroline Vakil - 08/19/21 7:18 PM ET. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? "We don't just talk about it," he says. Joaquin Duato helped mastermind the health giant's breakup. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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. Deloitte does not. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. If he doesn't abandontradition for innovation, we will be left behind, he says. (18 votes) Very easy. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? The site youre being redirected to is a branded pharmaceutical website. 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. "We understand that we have a reputation. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. We have to make specific outreach to women on the STEM side. Duato is a dual citizen of Spain and the United States. "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. Difficult. 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 was the basis for J&J to pursue emergency use authorization? 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. 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. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. "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. Duato declined to go into legal specifics. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. 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. 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. He lives in Pennsylvania with his wife and has two grown children. 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