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. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. The reader is cautioned not to rely on these forward-looking statements. We have to make specific outreach to women on the STEM side. Duato will also be appointed to the board following his transition to. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Mr. Duato JNJ stock SEC Form 4 insiders trading. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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 Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. 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. He leads a global workforce of 135,000 employees in developing and delivering . 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. "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&J's drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Presenting a business case for devoting extensive time and resources to mentoring is a trickier task but one that Joaquin Duato, this years Healthcare Businesswomens Association Honorable Mentor honoree and EVP, worldwide chairman, pharmaceuticals at Johnson & Johnson, accomplishes with uncanny ease. 4. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Aug 19, 2021 11:00PM EDT. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. 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. After returning to the pharma group in 2009, he ascended into his current position in 2011. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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. LL: Why is it important to have collaboration among the global public health community in times of crises? "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. Easy. Please click below to continue to that site. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. (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 . The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Maya Tsukernik you are amazing, congratulations on a great job!!! #jnj #mycompany #data #innovation "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. His career in healthcare was influenced by his family. All Rights Reserved. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. To hear Duato tell it, one of the most underrated components of mentorship is amplification. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. "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. Beginning early last year, we initiated a multipronged response to the COVID-19 pandemic, which includes developing a vaccine, and providing support to those most in need. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. [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 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. Duato grew up in Valencia, Spain. See here for a complete list of exchanges and delays. 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. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. (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 . A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. Our Credo is clear. 08.23.21. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. And while Duato isnt the type of leader who preaches from a soapbox, he believes that pharma needs to prioritize mentoring especially of top-flight women scientists far more than other industries do. 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. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Got a confidential news tip? Rate the pronunciation difficulty of Joaquin Duato. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. Joaquin has long believed in the power of technology to accelerate progress in healthcare. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. From 2018, he added responsibilities for the company's consumer business,. We walk the walk.. 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. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. He spent nearly a decade as executive sponsor for the African Ancestry Leadership Council employee resource group and is committed to building an inclusive workforce that reflects the patients J&J serves. You are now leaving jnj.com. Terms & Conditions. 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. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 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. 3 /5. 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. LL: What do we know about vaccine hesitancy in the Latinx community? During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? "Overall, we've seen volatility in the consumer demand," Duato said, "but we continue to see very solid consumer business coming through and we continue to try to deliver what is best for consumers and we continue to try to mitigate our cost increases by improving our own efficiency, and in some cases also having price increases but overall, we are bullish about the potential of our consumer health business and about our ability to navigate the inflationary pressures in a way that is optimal for consumers," he said. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? 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. Gorsky, who has served as CEO and chairman since 2012, will become. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Pronunciation of Joaquin: Learn how to pronounce the word Joaquin.Definition and meaning can be found here: https://www.google.com/search?q=define+JoaquinThe. Joaquin Duato is surrounded by relics of the past. Joaquin Duato Chairman of the Board and Chief Executive Officer New Brunswick, New Jersey, United States 38K followers 500+ connections Join to follow Johnson & Johnson Esade About I believe that. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. 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. Create your free account or log in to continue reading this premium content. 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. 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. On this Wikipedia the language links are at the top of the page across from the article title. Duato received a Master of Business Administration from ESADE Business School in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. we must have a workforce that generally reflects that ethnic and . Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. The decision to step aside was one of the most difficult of my career. 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. 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. "Mr. Duato's international . 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. It was solely about personal and professional growth, not about getting the next job. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Pharma. 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. 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. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. (Podcast). 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 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. Representation and inclusion is part of our DNA. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. (18 votes) Very easy. Educating physicians and investigators and working with diverse clinical trial personnel. Nonetheless, investor goodwill remains strong in the company. 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. "We understand that we have a reputation. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. You are now leaving jnj.com. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Gorsky also dramatically increased diversity, equity, and inclusion within the company, serving as the driving force behind many of Johnson & Johnsons DE&I initiatives, including its $100 million pledge to fight health inequities for communities of color in the U.S., the company said. 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.. Early life and education [ edit] Duato grew up in Valencia, Spain. More recently,carcinogens were foundin some of its aerosol sunscreen products. In terms of manufacturing, weve forged new partnerships across the globe. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. All Rights Reserved. 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. Were only able to tackle this problem at home if we address it worldwide. 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. Previously, Joaquin served as the Vice Chairman of the . Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. 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. 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. Chairman of the Board and Chief Executive Officer. Get this delivered to your inbox, and more info about our products and services. Gorsky, the . 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. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. Contact Us with any questions or search this site for more information. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Duato, 59, has been working for the company for over 30 years. 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