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. We want to hear from you. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. 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. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information, Americans ineligible for COVID booster shots are already. 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.. 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.. You are now leaving jnj.com. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. Lilly to cut some list prices by 70% and offer $25 insulin, GSK catches up with Pfizer in RSV vaccine race after FDA panel's backing, Reporting by Leroy Leo in Bengaluru; Editing by Krishna Chandra Eluri, China scoffs at FBI claim that Wuhan lab leak likely caused COVID pandemic, 'Havana syndrome' not caused by foreign adversary, U.S. intel finds, EU silence over Pfizer COVID contract talks is problem that won't go away -watchdog, Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Delta pilots ratify new contract, raise 'the bar' for rival airlines, South African scientists use bugs in war against water hyacinth weed, Oil settled up as rising supplies face Chinese demand hopes, How Elon Musk has missed his targets on delivering affordable cars, Exclusive news, data and analytics for financial market professionals. 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. 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Jan 26, 2023 09:15am. "Overall, we've seen volatility in the consumer demand," Duato said, "but we continue to see very solid consumer business coming through and we continue to try to deliver what is best for consumers and we continue to try to mitigate our cost increases by improving our own efficiency, and in some cases also having price increases but overall, we are bullish about the potential of our consumer health business and about our ability to navigate the inflationary pressures in a way that is optimal for consumers," he said. Why? The industry leader for online information for tax, accounting and finance professionals. Difficult. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. "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: 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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. "Mr. Duato's international . As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . "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. 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. Representation and inclusion is part of our DNA. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. 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. 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. 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. Duato is a dual citizen of Spain and the United States. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Wow, what an awesome event with such wonderful people! 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. Please see our Privacy Policy. Any forward-looking statement made in this release speaks only as of the date of this release. CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. 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. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. Terms & Conditions. They opened my mind and made me think about higher goals. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. It is extremely important for us to collaborate worldwide to help combat this disease. But the 61-year-old cited family health reasons as partially motivating his departure. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Contact Us with any questions or search this site for more information. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. we must have a workforce that generally reflects that ethnic and . 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. (18 votes) Very easy. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. 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 . 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. "Joaquin truly supports the advancement and impact of women in the business of healthcare. These statements are based on current expectations of future events. A Division of NBCUniversal. 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. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Yet Duato plotted to rid itof itsconsumer-products legacy. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. Contact Us with any questions or search this site for more information. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. "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. 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. 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. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. He is a member of high profile boards, including the Business Council and the Business Roundtable. Your use of the information on this site is subject to the terms of our Legal Notice. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . 2. 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. 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. 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. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. 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. 4. See here for a complete list of exchanges and delays. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Got a confidential news tip? Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. 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. [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. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" They created a strong foundation of trust and collaboration and mutual respect.. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Moderate. 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. We know that Joaquin is single at this point. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Gorsky, who has served as CEO and chairman since 2012, will become. Duato is trilingual, speaking English, Spanish, and Italian. He was also appointed to the companys board of directors. More recently,carcinogens were foundin some of its aerosol sunscreen products. Powered and implemented by Interactive Data Managed Solutions. 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. There is no bigger or better known health-care conglomerate in the world. 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. 08.23.21. Get this delivered to your inbox, and more info about our products and services. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. 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. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Please click below to continue to that site. That diversity gets us closer to our customer base, Duato points out. 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. Dow Inc and private company X-energy said on Wednesday they have agreed to develop and demonstrate the first grid-scale next-generation nuclear reactor for an industrial site in North America. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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