During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. Johnson & Johnson JNJ has long been viewed as a bellwether stock for other health care companies, given its early slot in the earnings calendar and a business model that spans everything from hip implants to rheumatoid arthritis drugs and Band-Aids. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . 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Sign up for free newsletters and get more CNBC delivered to your inbox. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. 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. "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. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnsons opportunity to play a key role in meaningfully improving the global trajectory of human health, he said. Chairman of the Board and Chief Executive Officer. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. . "Mr. Duato's international . He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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 . As Vice Chairman of the Executive Committee, he provides . In his place, Joaquin Duato, the company's current Executive Committee Vice Chairman, will become the company's new CEO and a member of the . 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. Its very important both in talent recruitment and in retention.. The rules of the past no longer apply after the seismic events of the past three years. 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. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. 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.. 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. 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. 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. Duato is trilingual, speaking English, Spanish, and Italian. (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 . FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Contact Us with any questions or search this site for more information. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. 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. Our Standards: The Thomson Reuters Trust Principles. 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. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Difficult. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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. 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. 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. 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 officer, giving him key insights into the role of technology in health care. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Why? 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Duato grew up in Valencia, Spain. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? 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. Deloitte does not. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. They averaged a 15% annual return, in line with the S&P 500 Index. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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. 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. "We don't just talk about it," he says. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Over the last three decades, Alexs influence has truly shaped the global healthcare landscape and improved billions of lives, said Anne Mulcahy, Lead Independent Director. LL: What do we know about vaccine hesitancy in the Latinx community? The site youre being redirected to is a branded pharmaceutical website. Please see our Privacy Policy. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Romaine Bostick breaks down the day's top stories and trading action leading into the close. 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. "Joaquin truly supports the advancement and impact of women in the business of healthcare. FORTUNE may receive compensation for some links to products and services on this website. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. Anne Mulcahy, J&Js lead independent director, said the board engaged in thoughtful long-term succession planning. She described Duato as an effective and committed leader who has been critical to the companys growth. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". JD: Throughout our more than 130-year history, Johnson & Johnson has had a legacy of coming to the aid of communities during times of crisis from natural disasters to health outbreaks. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. 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. Got a confidential news tip? Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. This site is governed solely by applicable U.S. laws and governmental regulations. 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.". He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . How was Johnson & Johnsons struggling pharmaceutical business in the U.S. and other countries ], Duato began Johnson! Duatojoaquin Duato is trilingual, speaking English, Spanish, and his grandmother pharmacist. 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