"We understand that we have a reputation. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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. People on the Move: Chris Womack, CEO, Southern Company, People on the Move: CVS Names Shari Slate as SVP, Chief Diversity, Equity and Inclusion Officer, People on the Move: Tarbinlam Lafon, VP, Chief Procurement Officer, Humana, People on the Move: Alice H. Chen, Centenes Chief Health Officer, Women Executives Advice on Changing Up Workplace Demographics. Wow, what an awesome event with such wonderful people! [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. 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. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. Maya Tsukernik you are amazing, congratulations on a great job!!! 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Chairman of the Board and Chief Executive Officer. 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. 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. All Rights Reserved. While Duato doesnt share specific experiences or anecdotes, he notes that being mentored was hugely important to his development as both a professional and a person and that every one of his mentors along the way happened to be women. FORTUNE may receive compensation for some links to products and services on this website. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Please see our Privacy Policy. Representation and inclusion is part of our DNA. Were only able to tackle this problem at home if we address it worldwide. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. 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. About 64% of Hispanic adults now say theyve either gotten at least one dose of the vaccine or will get it as soon as they can. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. Duato is the only major health industry CEO who has served as chief information officer. 1. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Previously, Joaquin served as the Vice Chairman of the . 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. 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. Contact Us with any questions or search this site for more information. 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. The site youre being redirected to is a branded pharmaceutical website. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. They opened my mind and made me think about higher goals. 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. Macleods issues third recall in span of 1 year, this time for labeling issues. 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. 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. J&J ranks No. (Podcast). Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. 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. 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. 3 /5. The decision to step aside was one of the most difficult of my career. 2023 Fortune Media IP Limited. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. 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. Create your free account or log in to continue reading this premium content. 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 leads a global workforce of 135,000 employees in developing and delivering . All quotes delayed a minimum of 15 minutes. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Jan 26, 2023 09:15am. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. He started at the company in 1989, working in sales in his home country of Spain. 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. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Joaquin Duato is surrounded by relics of the past. 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 leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Got a confidential news tip? Pronunciation of Joaquin Duato with 4 audio pronunciations. Aug 19, 2021 11:00PM EDT. 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. 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. Yet Duato plotted to rid itof itsconsumer-products legacy. Duato will also be appointed as a member of the company's Board of Directors. Educating physicians and investigators and working with diverse clinical trial personnel. 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. This site is governed solely by applicable U.S. laws and governmental regulations. Duato, 59, has been working for the company for over 30 years. See here for a complete list of exchanges and delays. Early life and education [ edit] Duato grew up in Valencia, Spain. The rules of the past no longer apply after the seismic events of the past three years. 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. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Offers may be subject to change without notice. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. Why? LL: What was the basis for J&J to pursue emergency use authorization? He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. Duato is a dual citizen of Spain and the United States. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Terms & Conditions. 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. That is why I believe. Get this delivered to your inbox, and more info about our products and services. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. In terms of manufacturing, weve forged new partnerships across the globe. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 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. About Alex GorskyAlex Gorsky is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, one of just seven leaders who have served in the dual role since the company was listed on the New York Stock Exchange in 1944. 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 . They averaged a 15% annual return, in line with the S&P 500 Index. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements.. Join us at MM+M Transform: The New Era of Connectivity for an in-depth look at trends likely to inform the industrys evolution over the next 18 months. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. They created a strong foundation of trust and collaboration and mutual respect.. Gorsky, the . About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Reducing and/or removing logistical barriers for underrepresented populations. Duato is trilingual, speaking English, Spanish, and Italian. 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. We know that Joaquin is single at this point. "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. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. 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. 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. 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.. 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. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. It is influenced by factors such as confidence, convenience and complacency. (Reuters) -Johnson & Johnson on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the remainder of the . He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. "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. Nonetheless, investor goodwill remains strong in the company. J&J veteran Duato replaced Gorsky as CEO earlier this year after . 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. All rights reserved. JD: The virus does not recognize borders. 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. Gorsky said Duato oversaw Johnson & Johnsons response to the COVID-19 pandemic and led the coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity.. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. From 2018, he added responsibilities for the company's consumer business,. We saw a tectonic shift as slow-moving trends went into overdrive. 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. 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. 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. You are now leaving jnj.com. 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. Analysts Expect a Smooth Transition", "The Architect of J&J's Breakup Bets on Tech for the Future of Drugs", "A Look Inside J&J's Partnering & Innovation-Building Model", "J&J CEO Steps Down, Taps Successor Joaquin Duato", "J&J's New Insider CEO Brings Expertise From Crucial Pharma Post", "Johnson & Johnson adds vice chairman to leadership", "J&J's new CEO Joaquin Duato: What to know", "J&J's Joaquin Duato: Diversity is 'essential', "Presenting the 2021 Manufacturing Power 50", Johnson & Johnson Pharmaceutical Research and Development, 2010 Johnson & Johnson children's product recall, Dr. Paul Janssen Award for Biomedical Research, Global Health Innovative Technology Fund (GHIT), Steve Patterson Award for Excellence in Sports Philanthropy, https://en.wikipedia.org/w/index.php?title=Joaquin_Duato&oldid=1125964304, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 6 December 2022, at 20:42. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. 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. Priority No. Our Standards: The Thomson Reuters Trust Principles. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. 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. 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