The site youre being redirected to is a branded pharmaceutical website. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". You dont have to try too hard to make a human case for mentoring. Terms & Conditions. He is a member of high profile boards, including the Business Council and the Business Roundtable. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. Salesforce stock jumps 13% after earnings, revenue top estimates. More recently,carcinogens were foundin some of its aerosol sunscreen products. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Duato is trilingual, speaking English, Spanish, and Italian. Pharma. LinkedIn has officially entered its cringe era, and its working. Contact Us with any questions or search this site for more information. See here for a complete list of exchanges and delays. All Rights Reserved. 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. 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. There is no bigger or better known health-care conglomerate in the world. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. (Podcast). All Rights Reserved. Why? He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. 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. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. He lives in Pennsylvania with his wife and has two grown children. 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.. 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. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. This site is governed solely by applicable U.S. laws and governmental regulations. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. See here for a complete list of exchanges and delays. 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. Duato is a dual citizen of Spain and the United States. We walk the walk.. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. (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 . [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. We want to hear from you. 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. 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.. 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 Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. [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. 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.". 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. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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. Duato grew up in Valencia, Spain. 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.. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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 . Joaquin Duato, who led J&J's pharmaceuticals business before becoming a Gorsky deputy, will become chief executive and join the company's board of directors. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? "Mr. Duato's international . Duato will also be appointed as a member of the company's Board of Directors. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 4. 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. 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. 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. We saw a tectonic shift as slow-moving trends went into overdrive. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. 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. 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. CVS and Walgreens confirmed last month that their pharmacies were limiting the. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. 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. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. After returning to the pharma group in 2009, he ascended into his current position in 2011. 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. These statements are based on current expectations of future events. 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. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. 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. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. 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. 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. [ 6 ] [ 7 ], Duato led multiple Business divisions, and overseeing supply-chain and.! Since 2018, guiding the drug and consumer health misunderstandings and frustration, he ascended his. I try to understand the individual and what strengths they have, the sector into... 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