Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Our Credo is clear. 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. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. 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. 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 . In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. we must have a workforce that generally reflects that ethnic and . In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. 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. 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. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. I would like to express my deep appreciation to every employee, past and present, for their steadfast commitment to bringing our Credo to life every day and to improving the well-being of those who rely on us. 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. 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, 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. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. 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. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, 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. 2023 CNBC LLC. Aug 19, 2021 11:00PM EDT. All Rights Reserved. Educating physicians and investigators and working with diverse clinical trial personnel. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. "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. At Johnson & Johnson, were mobilizing to support organizations that meet underrepresented communities where they are and engage at the grassroots level by involving respected elected representatives, trusted local and national faith leaders, community advocates, and other national and local organizations. 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. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. 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. 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. 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.. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. 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. Its very important both in talent recruitment and in retention.. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . articles a month for anyone to read, even non-subscribers! Nonetheless, investor goodwill remains strong in the company. J&J declined to make Gorsky and Duato available for comment. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. The best ideas and solutions happen when people bring their uniqueness to work with them. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. Mr. Duato JNJ stock SEC Form 4 insiders trading. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&Js drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become the powerhouse that it is today. Joaquin Duato is surrounded by relics of the past. 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. Joaquin Duato helped mastermind the health giant's breakup. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Joaquin Duato (born April 1962) is a Spanish-American business executive. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. It was solely about personal and professional growth, not about getting the next job. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. 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.. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. [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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. We want to hear from you. 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. To reflect that, HCB Health has become Boundless Life Sciences Group. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. 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. Any forward-looking statement made in this release speaks only as of the date of this release. He lives in Pennsylvania with his wife and has two grown children. I also want to thank Alex for his countless contributions to our Company. 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. 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 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. #jnj #mycompany #data #innovation He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. We dont just talk about it, he says. Contact Us with any questions or search this site for more information. 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. I believe that moving forward, we will take the lessons we have learned from the COVID-19 pandemic humanitarian crisis as we look to consider and prioritize the health of all communities, patients, consumers, and their families. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. "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. From 2018, he added responsibilities for the company's consumer business,. The rules of the past no longer apply after the seismic events of the past three years. 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. See here for a complete list of exchanges and delays. 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 is the only major health industry CEO who has served as chief information officer. 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. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? 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. 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. Under Alexs leadership, Johnson & Johnson continues to be one of the worlds exceptional corporations and is currently the number one pharmaceutical company on Fortune magazines list of the Worlds Most Admired Companies.. Romaine Bostick breaks down the day's top stories and trading action leading into the close. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". More recently,carcinogens were foundin some of its aerosol sunscreen products. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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Now its a museum parading J&Js 136-year heritage. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Previously, Joaquin served as the Vice Chairman of the . 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. Our Standards: The Thomson Reuters Trust Principles. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. J&J ranks No. 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. 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. 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. Pharma. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Gorsky, the . (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 . He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. "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. 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. 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