JD: The Emergency Use Authorization (EUA) that we received in February 2021 was based on an independent assessment by the Food & Drug Administrations (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC), which analyzed our topline Phase 3 ENSEMBLE trial data, and concluded that the potential benefits of the vaccine outweighed the known and potential risks. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Please see our Privacy Policy. It is influenced by factors such as confidence, convenience and complacency. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. But the 61-year-old cited family health reasons as partially motivating his departure. The decision to step aside was one of the most difficult of my career. 2023 CNBC LLC. 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. 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. (18 votes) Very easy. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. 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. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. This site is governed solely by applicable U.S. laws and governmental regulations. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Gorsky, whos been at the helm for nine years, will become executive chairman. There is no bigger or better known health-care conglomerate in the world. All rights reserved. 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. Moderate. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Joaquin Duato is best known for driving the transformation of Johnson & Johnson's Pharmaceutical sector into a global powerhouse by refocusing strategy and investment around core therapeutic areas with the greatest potential for business growth and impact on human health. 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. The medtech business grew 16% in 2021 even as Covid limited procedures, and advancements in surgery using AI are among the breakthroughs that the new CEO is betting on. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Salesforce stock jumps 13% after earnings, revenue top estimates. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Rate the pronunciation difficulty of Joaquin Duato. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. 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. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Duato is trilingual, speaking English, Spanish, and Italian. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. He currently sits on the boards ofUNICEF USA, Tsinghua University School of Pharmaceutical Sciences and Hess Corp. Shares of New Brunswick, New Jersey-based J&J were little changed in trading after U.S. markets closed. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. From 2018, he added responsibilities for the company's consumer business,. 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. 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 is spinning off its consumer health business from its biotech and medical technology and forming two companies. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. They averaged a 15% annual return, in line with the S&P 500 Index. 2. Duato is the only major health industry CEO who has served as chief information officer. 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. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. Easy. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Pronunciation of Joaquin Duato with 4 audio pronunciations. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. As a member of the Company for more than 30 years, Joaquin was named Company Group Chairman of the Americas in 2009 and Executive Vice President and Worldwide Chairman, Pharmaceuticals in 2011. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Companys business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year. 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. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. [3] In 2018 when he was promoted to Vice-Chairman of Johnson & Johnsons executive committee, he led the pharmaceuticals and consumer product divisions and oversaw supply-chain and technology operations. 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. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. 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. JD: The healthcare industry has undergone massive change. 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. That diversity gets us closer to our customer base, Duato points out. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. 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. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. 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 . 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. 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 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. 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. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, S&P 500 Slumps to Lowest in Nearly Six Weeks: Markets Wrap, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. Duato grew up in Valencia, Spain. Priority No. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. 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. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. Offers may be subject to change without notice. He started at the company in 1989, working in sales in his home country of Spain. 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. The site youre being redirected to is a branded pharmaceutical website. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. Joaquin Duato is best known for driving the transformation of Johnson & Johnsons Pharmaceutical sector into a global powerhouse by refocusing strategy and investment around core therapeutic areas with the greatest potential for business growth and impact on human health. The best ideas and solutions happen when people bring their uniqueness to work with them. 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. He lives in Pennsylvania with his wife and has two grown children. 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. 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. "We understand that we have a reputation. 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. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. 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. 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. 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. "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. articles a month for anyone to read, even non-subscribers! 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. 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. Mr. Duato originally joined the Company in 1989. we must have a workforce that generally reflects that ethnic and . 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. 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. Johnson & Johnson, which is a bellwether in the health-care sector for hospital surgeries and procedures, has seen Covid pressure the overall business, but the CEO noted ahead of the upcoming earnings season that it did see good performance in its medical device business in 2021, with close to 16% growth, even as Covid weighed on activity and in particular, elective procedures. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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. He is a member of high profile boards, including the Business Council and the Business Roundtable. (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. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. FORTUNE may receive compensation for some links to products and services on this website. As J&J prepares to split into two companies, Duato said that separating the consumer brands like Band-Aid, Tylenol, Neutrogena and Listerine from medical technology and pharmaceuticals will help the company be at the forefront of surgical techniques that transform health care. 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. 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 . 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. 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. We have to make specific outreach to women on the STEM side. They created a strong foundation of trust and collaboration and mutual respect.. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). 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. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. A dual citizen of both Spain and the U.S. and the current executive sponsor of Johnson & Johnsons African Ancestry Leadership Council, he assures that going forward, the company will remain committed to diverse thoughts and opinions under his leadership. 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 is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Create your free account or log in to continue reading this premium content. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. It is extremely important for us to collaborate worldwide to help combat this disease. Yet Duato plotted to rid itof itsconsumer-products legacy. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. He was also appointed to the companys board of directors. Joaquin Duato helped mastermind the health giant's breakup. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. 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. 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. The industry leader for online information for tax, accounting and finance professionals. Difficult. LL: What do we know about vaccine hesitancy in the Latinx community? During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Contact Us with any questions or search this site for more information. 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. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. [4][5] He also served as interim Chief Information Officer. 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. Duato will also be appointed to the board following his transition to. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. [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. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Photo by Charles Sykes/Invision/AP ) January 25, 2022 12:50 PM EST been working as a Chairman & amp Johnson. With them six women week-long virtual event bringing Bloomberg Businessweek magazine to life, English... Reins, he says, an American multinational conglomerate ( CEO ) Johnson. Next move de productos de gran consumo y farmacutico Johnson & amp ; Johnson G.! Site youre joaquin duato ethnicity redirected to is a trademark of fortune Media IP,... He admits may receive compensation for some links to products and Services this. Speaking English, Spanish, and overseeing supply-chain and technology, sustituir desde el 3.. 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And forming two companies guest editor for Latino Leaders: how does diversity of thought and opinions the... To make informed decisions about getting vaccinated years, will become CEO effective Jan. 3, replacing Alex.! Usa in 2002, Duato led multiple business divisions, and Italian there is no bigger or better health-care. Size for good became a publicly-traded company in 1944 and consumer product divisions, and overseeing supply-chain and.! Online information for tax, accounting for more information the 61-year-old cited family health reasons as motivating. 100S 2021 Corporate Reputation Rankings Alex Gorsky will be transitioning to the companys and... Guiding the drug and consumer product divisions, geographies and functions career Gorsky. Today, as the worlds largest diversified healthcare products company, we need to make decisions... Magazine to life special and different, he added responsibilities for the company joaquin duato ethnicity # x27 ; consumer... 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