The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. This site is governed solely by applicable U.S. laws and governmental regulations. Visit a quote page and your recently viewed tickers will be displayed here. [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. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. 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. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. All rights reserved. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Pharma relies on people who come from a scientific background, but historically within STEM [science, technology, engineering, and mathematics], youve seen more men, he says. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. [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. You dont have to try too hard to make a human case for mentoring. 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. There is no bigger or better known health-care conglomerate in the world. 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. #jnj #mycompany #data #innovation 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. That is why I believe. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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, 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. Ms. Taubert owns over 76,923 units of Johnson & Johnson stock worth over $35,709,285 and over the last 4 years she sold JNJ stock worth over $0. Duato is committed to nurturing a diverse, equitable and inclusive workplace as J&J continues to develop medicines to transform the lives of patients around the world. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Very difficult. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Our Standards: The Thomson Reuters Trust Principles. 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. We know that Joaquin is single at this point. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. Gorsky, the . by Caroline Vakil - 08/19/21 7:18 PM ET. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. 2023 CNBC LLC. After returning to the pharma group in 2009, he ascended into his current position in 2011. Nonetheless, investor goodwill remains strong in the company. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. All Rights Reserved. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. They averaged a 15% annual return, in line with the S&P 500 Index. Doctors, nurses, and health care providers are seen as the most trusted voice people turn to when deciding if they should get a COVID-19 vaccine. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. He started at the company in 1989, working in sales in his home country of Spain. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Joaquin Duato helped mastermind the health giant's breakup. Continue reading your article with. 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. If he doesn't abandontradition for innovation, we will be left behind, he says. Priority No. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Create your free account or log in to continue reading this premium content. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. (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 lives in Pennsylvania with his wife and has two grown children. To reflect that, HCB Health has become Boundless Life Sciences Group. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? Got a confidential news tip? Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . But the new chief executive officerisnt interested in artifacts. J&J veteran Duato replaced Gorsky as CEO earlier this year after . In terms of manufacturing, weve forged new partnerships across the globe. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. A Division of NBCUniversal. 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. articles a month for anyone to read, even non-subscribers! Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . 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.. J&J ranks No. Your use of the information on this site is subject to the terms of our Legal Notice. Contact Us with any questions or search this site for more information. 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. "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. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. 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. 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 September 2020, Janssen signed the vaccine maker pledgeto promise the public that decisions around the potential use of our vaccine candidate will be based purely on science and pre-existing guidelines from health authorities around the world. 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. 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. Joaquin Duato takes over Jan. 3 as CEO amid plans to spin off J&J's consumer division, a shakeup of other executive leadership positions, high profile lawsuits and controversy that stunted sales . It was solely about personal and professional growth, not about getting the next job. That diversity gets us closer to our customer base, Duato points out. Alex Gorsky will step down as chief executive of Johnson & Johnson in January, ceding the role to longtime company executive Joaquin Duato, the health care giant announced Thursday. 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. LL: What was the basis for J&J to pursue emergency use authorization? Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. It is extremely important for us to collaborate worldwide to help combat this disease. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Its very important both in talent recruitment and in retention.. Yet Duato plotted to rid itof itsconsumer-products legacy. 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. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Get this delivered to your inbox, and more info about our products and services. 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. 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. All Rights Reserved. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. All quotes delayed a minimum of 15 minutes. (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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. 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. Once highly anticipated because it requires just a single dose, J&Js Covid vaccine has been sparsely used relative to competitors from the Pfizer Inc.-BioNTech SE partnership and Moderna Inc. after challenges at a contract manufacturer. You are now leaving jnj.com. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. 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. 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. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Romaine Bostick breaks down the day's top stories and trading action leading into the close. 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. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. We want to hear from you. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. 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. 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. 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. We have to make specific outreach to women on the STEM side. His career in healthcare was influenced by his family. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Interpersonal connections form the core of every organization in every vertical, while identifying young talent and attempting to foster it invest both the giver and recipient with a sense of purpose. Pronunciation of Joaquin Duato with 4 audio pronunciations. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Were only able to tackle this problem at home if we address it worldwide. 1. 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. 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. Salesforce stock jumps 13% after earnings, revenue top estimates. 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 . He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. 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. JD: With our ENSEMBLE COVID-19 vaccine clinical trial, we employed intentional focus and purposeful tracking in the clinical trial design and experience, which allowed us to achieve our enrollment targets within populations disproportionately affected by the COVID-19 pandemic. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. (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 . 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. Jan 26, 2023 11:12am. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. "Joaquin Duato has a phenomenal track record of developing and promoting female leaders and HBA is extremely proud to honor him as our 2017 Honorable Mentor," said HBA CEO Laurie Cooke. 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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Our Credo is clear. 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. 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. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. 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 Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. "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. J&J declined to make Gorsky and Duato available for comment. 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. The site youre being redirected to is a branded pharmaceutical website. Duato is the only major health industry CEO who has served as chief information officer. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Your use of the information on this site is subject to the terms of our Legal Notice. The reader is cautioned not to rely on these forward-looking statements. 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. 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. 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. The rules of the past no longer apply after the seismic events of the past three years. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Every age and every stage of life or share My personal information Limit. 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