"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. He leads a global workforce of 135,000 employees in developing and delivering . by Caroline Vakil - 08/19/21 7:18 PM ET. 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. 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. 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Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. We are also taking action to support health equity in communities of color, working with partners to educate the most at-risk about vaccines and working with our partners to advance racial and ethnic health equity in COVID-19 treatment and care through a series of targeted COVID-19 focused programs. The rules of the past no longer apply after the seismic events of the past three years. 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. 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 . Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. LL: Why is it important to have collaboration among the global public health community in times of crises? 08.23.21. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. Dow Inc and private company X-energy said on Wednesday they have agreed to develop and demonstrate the first grid-scale next-generation nuclear reactor for an industrial site in North America. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? "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. Over the last three decades, Alexs influence has truly shaped the global healthcare landscape and improved billions of lives, said Anne Mulcahy, Lead Independent Director. 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. 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. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 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. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. . (Podcast). 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. 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. Our Credo is clear. 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. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. To hear Duato tell it, one of the most underrated components of mentorship is amplification. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. 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. Very difficult. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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 . Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. 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. 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. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. 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.. 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. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. 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Duato is a dual citizen of Spain and the United States. 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 Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. 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. Easy. 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. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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. J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. LL: What do we know about vaccine hesitancy in the Latinx community? 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. 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. 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. Difficult. We walk the walk.. It is influenced by factors such as confidence, convenience and complacency. 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. 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. 4. Get this delivered to your inbox, and more info about our products and services. 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. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. we must have a workforce that generally reflects that ethnic and . "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. From 2018, he added responsibilities for the company's consumer business,. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. 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. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Duato will also be appointed as a member of the company's Board of Directors. Powered and implemented by Interactive Data Managed Solutions. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. 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. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. The industry leader for online information for tax, accounting and finance professionals. 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. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. Duato will receive the award during the Esade Alumni Annual Conference, which will take place on 27th June at Teatre Nacional de Catalunya.. Duato, who was appointed CEO in January 2022, has been selected as the winner of this year's Esade Award for his responsible . We dont just talk about it, he says. 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. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. Your use of the information on this site is subject to the terms of our Legal Notice. 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 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. J&J ranks No. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. 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