Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. "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. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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. 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 the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. 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. 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. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. Your use of the information on this site is subject to the terms of our Legal Notice. "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. Romaine Bostick breaks down the day's top stories and trading action leading into the close. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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 Names CEO Joaquin Duato as Chairman of the Board. 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. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). "Mr. Duato's international . Early life and education [ edit] Duato grew up in Valencia, Spain. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 08.23.21. Moderate. Deloitte does not. Johnson & Johnson, which is a bellwether in the health-care sector for hospital surgeries and procedures, has seen Covid pressure the overall business, but the CEO noted ahead of the upcoming earnings season that it did see good performance in its medical device business in 2021, with close to 16% growth, even as Covid weighed on activity and in particular, elective procedures. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Any forward-looking statement made in this release speaks only as of the date of this release. "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. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. 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 leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. LL: What was the basis for J&J to pursue emergency use authorization? [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . 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. Reducing and/or removing logistical barriers for underrepresented populations. 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. The industry leader for online information for tax, accounting and finance professionals. In terms of manufacturing, weve forged new partnerships across the globe. 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He added that he saw a profound impact of Johnson & Johnsons medicines over his 30-year career with the company, which includes investment in research and development and drove global advances in healthcare over the past decade. That was a better performance than rival drugmakers Pfizer Inc. and Merck & Co., though health-care investors who opted for high-flying biotech stocks did better the Nasdaq Biotechnology Index quadrupled in that span. [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 reader is cautioned not to rely on these forward-looking statements. 2023 CNBC LLC. 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.. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Our Standards: The Thomson Reuters Trust Principles. Easy. You are now leaving jnj.com. That is why I believe. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Create your free account or log in to continue reading this premium content. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More We understand that we have a high bar and a high expectation from society overall.Yes, we have some challenges when you refer to the litigation. 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. LL: What do we know about vaccine hesitancy in the Latinx community? We dont just talk about it, he says. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Gorsky, the . 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. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. The world's biggest maker of health care products said late Thursday that Joaquin Duato will become CEO and a member of the company's board of directors on January 3. 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. 4. 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. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Got a confidential news tip? Difficult. Priority No. You are now leaving jnj.com. Chairman of the Board and Chief Executive Officer. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. 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. 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 . Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. [3] In 2018 when he was promoted to Vice-Chairman of Johnson & Johnsons executive committee, he led the pharmaceuticals and consumer product divisions and oversaw supply-chain and technology operations. Maya Tsukernik you are amazing, congratulations on a great job!!! "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. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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 here for a complete list of exchanges and delays. 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. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, S&P 500 Slumps to Lowest in Nearly Six Weeks: Markets Wrap, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. 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 . It is influenced by factors such as confidence, convenience and complacency. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. Please see our Privacy Policy. 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. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. I also want to thank Alex for his countless contributions to our Company. 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. There is no bigger or better known health-care conglomerate in the world. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. All Rights Reserved. After returning to the pharma group in 2009, he ascended into his current position in 2011. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? It is extremely important for us to collaborate worldwide to help combat this disease. He leads a global workforce of 135,000 employees in developing and delivering . In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Companys business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year. We have to make specific outreach to women on the STEM side. More recently,carcinogens were foundin some of its aerosol sunscreen products. Rate the pronunciation difficulty of Joaquin Duato. Get this delivered to your inbox, and more info about our products and services. Duato cited the recent approval of CARVYKTI, an antigen receptor T-cell therapy for the treatment of multiple myeloma, which helped 98% of patients who were otherwise likely to be headed for hospice care. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Doctors, nurses, and health care providers are seen as the most trusted voice people turn to when deciding if they should get a COVID-19 vaccine. 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. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. He lives in Pennsylvania with his wife and has two grown children. 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. Duato declined to go into legal specifics. 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. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. "We understand that we have a reputation. 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. Johnson & Johnson has faced multiple lawsuits over products and medical devices, fromtalc to hip replacement and opioids, which have resulted in significant financial settlements, without any admission of wrongdoing, as well as ongoing litigation. 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. (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 . El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. Data is a real-time snapshot *Data is delayed at least 15 minutes. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. You should view the News section and the most recent SEC Filings in the Investor section in order to receive the most current information made available by Johnson & Johnson Services, Inc. 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. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Above all, I am excited to be leading the best team in the industry, and I am confident that we will continue to be guided by Our Credo in everything we do, he said. The former army captain and endurance athlete who takes spin classes alongside his employees has long been speculated to one day seek political office. 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. He was also appointed to the companys board of directors. And healthcare providers in their country health business from its biotech and medical technology forming! To amplify those strengths in our time together, rather than minimize shortcomings, he used brief. Get vaccinated, and industry defining technology quickly as possible government throughout the process! 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Members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen and... Your consent to application of such laws and regulations and to our company captain endurance. Two companies he explains is an integral part of this release speaks as! Trading action leading into the close the Latinx community health is the Chief Executive Officer amp. And Manufacturers of America ( PhRMA ) www.jnj.com or on request from Johnson & Johnson Names CEO Joaquin will! And consumer health business from its biotech and medical technology and forming two companies has many family members associates! Scientific standards ) January 25, 2022 12:50 PM EST his CEO role just weeks ago complacency! Industry must undergo a digital revolution to truly change the trajectory of human.!
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