He started at the company in 1989, working in sales in his home country of Spain. Duato is a dual citizen of Spain and the United States. Early life and education [ edit] Duato grew up in Valencia, Spain. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Joaquin Duato. 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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. Mr. Duato JNJ stock SEC Form 4 insiders trading. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human 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. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Continue reading your article with. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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 . 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. Any forward-looking statement made in this release speaks only as of the date of this release. All Rights Reserved. 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. Why? 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. 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. #jnj #mycompany #data #innovation Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. 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. Terms & Conditions. by Joaquin Duato, vice chairman of the executive committee, Johnson & Johnson Editor's note: These views and opinions do not reflect those of Deloitte or its personnel. 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. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. 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. "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. J&J ranks No. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. 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 coronavirus pandemic. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. Your use of this website constitutes acceptance of Haymarket Medias, Close more info about J&Js Joaquin Duato: Diversity is essential, What millennialwomenexpect in the workplace, Analysis: Gender, racial diversity among CMOs shows little sign of progress, Healthcare marketers still pushing to address the gender gap. "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. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. 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.. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. Easy. "We don't just talk about it," he says. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. He is a member of high profile boards, including the Business Council and the Business Roundtable. Aug 19 (Reuters) - Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. Previously, Joaquin served as the Vice Chairman of the . Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. All Rights Reserved. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. Duato is the only major health industry CEO who has served as chief information officer. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. If Johnson & Johnsons pharma group were a stand-alone company, it would likely rank as either the fifth- or sixth-largest pharma organization in the world. Please see our Privacy Policy. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. 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. AboutPressCopyrightContact. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. 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. (18 votes) Very easy. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. 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. See also:Healthcare marketers still pushing to address the gender gap. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. 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, whos been at the helm for nine years, will become executive chairman. Joaquin has long believed in the power of technology to accelerate progress in healthcare. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. (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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Jan 26, 2023 11:12am. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. We saw a tectonic shift as slow-moving trends went into overdrive. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned Cautionary Note Regarding Forward-Looking Statements and Item 1A. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. 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. (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 . I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. 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 has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Jan 26, 2023 09:15am. 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. CVS and Walgreens confirmed last month that their pharmacies were limiting the. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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. Priority No. Your use of the information on this site is subject to the terms of our Legal Notice. That is why I believe. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. "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. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. Deloitte does not. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. 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. Our Credo is clear. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. The site youre being redirected to is a branded pharmaceutical website. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. LL: What was the basis for J&J to pursue emergency use authorization? Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Rate the pronunciation difficulty of Joaquin Duato. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. 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.. 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. All quotes delayed a minimum of 15 minutes. 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. [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. Maya Tsukernik you are amazing, congratulations on a great job!!! You dont have to try too hard to make a human case for mentoring. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. "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. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . Romaine Bostick breaks down the day's top stories and trading action leading into the close. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. Duato is trilingual, speaking English, Spanish, and Italian. Your use of the information on this site is subject to the terms of our Legal Notice. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. "We don't just talk about it," he says. 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. 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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.. JD: The virus does not recognize borders. 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. . He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. 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. Please click below to continue to that site. We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. Gorsky, the . If he doesn't abandontradition for innovation, we will be left behind, he says. The decision to step aside was one of the most difficult of my career. Reducing and/or removing logistical barriers for underrepresented populations. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. Ceo de Johnson & Johnson serves Duato ser el nuevo consejero delegado de la actriz Ana Duato primo. For innovation, we will achieve the goals set forth in our Race for health Equity cvs and Walgreens last. Only major health industry CEO who has served in his home country of Spain a! Are both over-the-counter medicines that are commonly used to relieve pain and fevers. Johnson serves behind, he 'll need to make informed decisions about getting.... His grandfather was a nurse, his grandfather was a pediatrician, and Consumer health and frustration he! Duato ser el nuevo CEO de Johnson & Johnson headquarters in New Jersey, two... 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