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. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . J&J ranks No. The shot is still seen as important to fighting the pandemic, and J&J is working to ramp up supply through the end of the year. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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. 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. 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. 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. 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. by Caroline Vakil - 08/19/21 7:18 PM ET. Ms. Taubert owns over 76,923 units of Johnson & Johnson stock worth over $35,709,285 and over the last 4 years she sold JNJ stock worth over $0. [5] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). Gorsky is leaving his successor with a pile of lawsuits and controversy on the desk: The company recently reached a landmarksettlementover its alleged role in the epidemic of opioid overdoses, but additional suits remain related to its talcum-based baby powder, as well as other drugs and devices. Procter & Gamble Co.s David Taylor is stepping down in November, and Walt Disney Co. Chairman Bob Iger is leaving at the end of the year. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Pharma. We walk the walk.. The industry leader for online information for tax, accounting and finance professionals. . After returning to the pharma group in 2009, he ascended into his current position in 2011. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Offers may be subject to change without notice. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. Jan 26, 2023 09:15am. LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? (Podcast). He started at the company in 1989, working in sales in his home country of Spain. 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. 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. Its very important both in talent recruitment and in retention.. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. At Johnson & Johnson, we respect the diversity and dignity of every individual and we must use our position to not only speak out, but to take action. Before becoming CEO in 2022, Joaquin served as Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceuticals and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. Interpersonal connections form the core of every organization in every vertical, while identifying young talent and attempting to foster it invest both the giver and recipient with a sense of purpose. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. 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. Early life and education [ edit] Duato grew up in Valencia, Spain. 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. It was solely about personal and professional growth, not about getting the next job. 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. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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. This site is governed solely by applicable U.S. laws and governmental regulations. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. 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. 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. That diversity gets us closer to our customer base, Duato points out. JD: The virus does not recognize borders. "We don't just talk about it," he says. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. LinkedIn has officially entered its cringe era, and its working. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. 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. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. REGISTER BELOW, Why Johnson & Johnson is splitting itself into two publicly traded companies, How AI is detecting heart attack risk and aiming to outsmart Americas No. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. 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. Visit a quote page and your recently viewed tickers will be displayed here. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Duato will also be appointed to the board following his transition to. 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 (born April 1962) is a Spanish-American business executive. 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. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? It is extremely important for us to collaborate worldwide to help combat this disease. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. 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. 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. 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. 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 succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. "I see a future in which all medical devices would be smarter, connected to the cloud, being able to provide data to the surgeons for them to be able to in real time deliver better surgical outcomes," he said. LL: Why is it important to have collaboration among the global public health community in times of crises? "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. 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. "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. 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, 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. All Rights Reserved. Easy. They created a strong foundation of trust and collaboration and mutual respect.. You are now leaving jnj.com. articles a month for anyone to read, even non-subscribers! Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. Duato is the only major health industry CEO who has served as chief information officer. 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. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements.. Nonetheless, investor goodwill remains strong in the company. Duato received a Master of Business Administration from ESADE Business School in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. His career in healthcare was influenced by his family. Aug 19, 2021 11:00PM EDT. 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 has long believed in the power of technology to accelerate progress in healthcare. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. 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. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Representation and inclusion is part of our DNA. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. JD: The healthcare industry has undergone massive change. There is no bigger or better known health-care conglomerate in the world. 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. 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. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Pronunciation of Joaquin Duato with 4 audio pronunciations. Our Credo is clear. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. LL: What was the basis for J&J to pursue emergency use authorization? In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. Your use of the information on this site is subject to the terms of our Legal Notice. 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 Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. 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. Reducing and/or removing logistical barriers for underrepresented populations. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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 . During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. LL: What do we know about vaccine hesitancy in the Latinx community? Gorsky, whos been at the helm for nine years, will become executive chairman. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. All Rights Reserved. New Brunswick, N.J., November 30, 2022 Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has elected Chief Executive Officer, Mr. Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. Create your free account or log in to continue reading this premium content. 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. 2. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . 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. Any forward-looking statement made in this release speaks only as of the date of this release. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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. 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. All Rights Reserved. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. 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. Duato declined to go into legal specifics. 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.. we must have a workforce that generally reflects that ethnic and . He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. You are now leaving jnj.com. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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