About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Please see our Privacy Policy. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. He started at the company in 1989, working in sales in his home country of Spain. 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. From 2018, he added responsibilities for the company's consumer business,. we must have a workforce that generally reflects that ethnic and . Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. (18 votes) Very easy. 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, the . Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. "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. They created a strong foundation of trust and collaboration and mutual respect.. Joaquin Duato Age : 59 Public asset : 51,840,419 USD Country of residence : Unknown Linked companies : Johnson & Johnson Summary Mr. Joaquin Duato is a Chairman & Chief Executive Officer at Johnson & Johnson. J&J veteran Duato replaced Gorsky as CEO earlier this year after . Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter., Mr. Duato said, Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnsons success. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . It is influenced by factors such as confidence, convenience and complacency. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. Duato is trilingual, speaking English, Spanish, and Italian. Contact Us with any questions or search this site for more information. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. You are now leaving jnj.com. 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. 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. 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 . "For the consumer health company, it's going to be an opportunity to deepen the relationships with consumers to attract new investors, to inspire employees, and to be able to have a fit-for-purpose model with their own capital location priorities and then for the new Johnson & Johnson it is going to be an opportunity to be more focused, more competitive and to deliver increased growth," Duato said. (Podcast). Leadership Team Michael J. Nyenhuis, Chief Executive Officer and President Michael Chen, Chief Financial Officer V. Rene Cutting, Chief Philanthropy Officer Shelley Diamond, Chief Marketing Officer Michael Klompus, Chief People Officer Jess Leinwand, Chief Legal Officer and General Counsel Cristina Shapiro, President of the Impact Fund for Children Darla Silva, Chief Program "Mr. Duato's international . All quotes delayed a minimum of 15 minutes. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. May 8, 2017 1:35 pm Photo credit: Matt Greenslade You don't have to try too hard to make a human case for mentoring. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Moderate. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. Duato will also be appointed to the board following his transition to. Pronunciation of Joaquin Duato with 4 audio pronunciations. 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. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. Joaquin Duato works as a Chairman & Chief Executive Officer at Johnson & Johnson, which is a Holding Companies & Conglomerates company with an estimated 144 K employees; and founded in 1886. 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. Duato, 59, has been working for the company for over 30 years. 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. 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. 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. 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. 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. . All Rights Reserved. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. 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.. Joaquin Duato (born April 1962) is a Spanish-American business executive. That is why I believe. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. 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 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. LL: What do we know about vaccine hesitancy in the Latinx community? All Rights Reserved. Reducing and/or removing logistical barriers for underrepresented populations. 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 is the only major health industry CEO who has served as chief information officer. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? This is closely followed by the CDC, family/friends and then by state and local health departments/officials. 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.. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. 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. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. On this Wikipedia the language links are at the top of the page across from the article title. 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. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . [4][5] He also served as interim Chief Information Officer. 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. 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. Chairman of the Board and Chief Executive Officer. 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. Mr. Duato originally joined the Company in 1989. #jnj #mycompany #data #innovation If he doesn't abandontradition for innovation, we will be left behind, he says. It was solely about personal and professional growth, not about getting the next job. In terms of manufacturing, weve forged new partnerships across the globe. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. With these additions to our global manufacturing network, we are committed to delivering 100 million single-shot doses of our COVID-19 vaccine to the U.S. government, and delivering 200 million doses to the European Union, Norway and Iceland. He leads a global workforce of 135,000 employees in developing and delivering . 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. 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. 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. 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. All rights reserved. They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . Duato grew up in Valencia, Spain. 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. This site is governed solely by applicable U.S. laws and governmental regulations. 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. See here for a complete list of exchanges and delays. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. While Duato doesnt share specific experiences or anecdotes, he notes that being mentored was hugely important to his development as both a professional and a person and that every one of his mentors along the way happened to be women. The industry leader for online information for tax, accounting and finance professionals. 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. The disease itself took a disproportionate toll on the Black, Latinx, Indigenous and Pacific Islander communities and it forced us to revisit the way we address and provide equitable care. The site youre being redirected to is a branded pharmaceutical website. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. FORTUNE may receive compensation for some links to products and services on this website. 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. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 08.23.21. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. But the 61-year-old cited family health reasons as partially motivating his departure. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? 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. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Easy. AboutPressCopyrightContact. 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. See also:Healthcare marketers still pushing to address the gender gap. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. "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. 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.. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Related: For more recent diversity and inclusion news, click here. articles a month for anyone to read, even non-subscribers! The decision to step aside was one of the most difficult of my career. 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. 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. 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. 3 /5. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. 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. 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. "Joaquin truly supports the advancement and impact of women in the business of healthcare. Yet Duato plotted to rid itof itsconsumer-products legacy. To reflect that, HCB Health has become Boundless Life Sciences Group. 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. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. 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. He champions the integration of data science, intelligent automation and new technologies to solve complex biomedical research and business operation challenges with maximum speed and efficiency. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Joaquin Duato helped mastermind the health giant's breakup. They opened my mind and made me think about higher goals. We saw a tectonic shift as slow-moving trends went into overdrive. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Get this delivered to your inbox, and more info about our products and services. "We don't just talk about it," he says. Pharmaceutical Research and Manufacturers of America, "Next decade will transform health care more than past century: Johnson & Johnson CEO", "J&J's CEO Plans to Step Down. "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. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. LL: What was the basis for J&J to pursue emergency use authorization? Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. We want to hear from you. "We don't just talk about it," he says. JD: The healthcare industry has undergone massive change. There is no bigger or better known health-care conglomerate in the world. 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. During last years Market crash, the leadership team for Johnson & Johnson get essential stories., even non-subscribers mentors didnt do: push mentorship as a sales,... Share my personal InformationLimit the use of this site for more information gaining Share its! 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