For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. "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. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. That diversity gets us closer to our customer base, Duato points out. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. They created a strong foundation of trust and collaboration and mutual respect.. 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. More recently,carcinogens were foundin some of its aerosol sunscreen products. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. Supporting frontline health workers: In 2020, the Johnson & Johnson Family of Companies and the Johnson & Johnson Foundation committed $50 million to support frontline health workers. 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. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. 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. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Having also served as recent chairman of the industrys most prominent trade organization, the Pharmaceutical Research and Manufacturers of America, Duato has connections across the sector. J&J veteran Duato replaced Gorsky as CEO earlier this year after . Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. 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. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? 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. FORTUNE may receive compensation for some links to products and services on this website. In his first interview as Johnson & Johnson CEO, Joaquin Duato says at CNBC's Healthy Returns that there will be more innovation in health care over the next ten years than in the past century. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. Joaquin Duato, who led J&J's pharmaceuticals business before becoming a Gorsky deputy, will become chief executive and join the company's board of directors. The best ideas and solutions happen when people bring their uniqueness to work with them. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. 8 Enthusiasm for getting the COVID-19 vaccine continues to grow among people across racial and ethnic backgrounds, with the largest increase among Black adults. AboutPressCopyrightContact. 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. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 2. 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. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. As a member of the Company for more than 30 years, Joaquin was named Company Group Chairman of the Americas in 2009 and Executive Vice President and Worldwide Chairman, Pharmaceuticals in 2011. J&J ranks No. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Pronunciation of Joaquin Duato with 4 audio pronunciations. 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. (Reuters) -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 . In terms of manufacturing, weve forged new partnerships across the globe. 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. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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 . Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Terms & Conditions. Early life and education [ edit] Duato grew up in Valencia, Spain. 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. Joaquin Duato 6d Data science and digital health have transformed how Johnson & Johnson innovates, enabling us to bring life-changing science to patients faster than ever. Representation and inclusion is part of our DNA. Related: For more recent diversity and inclusion news, click here. 2023 Fortune Media IP Limited. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Mr. Duato JNJ stock SEC Form 4 insiders trading. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. I also want to thank Alex for his countless contributions to our Company. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. (18 votes) Very easy. Rate the pronunciation difficulty of Joaquin Duato. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. Priority No. 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. 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. You are now leaving jnj.com. Deloitte does not. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. [4][5] He also served as interim Chief Information Officer. 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. It has been an honor and privilege to lead this company as Chairman and CEO for nearly a decade, and I am pleased to serve as Executive Chairman to help oversee Johnson & Johnsons ongoing progress in improving the health of people and communities everywhere, Gorsky said in a statement. 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. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. "We understand that we have a reputation. 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. Please see our Privacy Policy. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Nonetheless, investor goodwill remains strong in the company. LL: What was the basis for J&J to pursue emergency use authorization? Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. The rules of the past no longer apply after the seismic events of the past three years. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. 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. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Sign up for free newsletters and get more CNBC delivered to your inbox. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. 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. 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. He was also appointed to the companys board of directors. All quotes delayed a minimum of 15 minutes. 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.. 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.. "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. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. 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. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. When the COVID-19 pandemic began he oversaw the Companys rapid response to the crisis and drove coordination of global initiatives to safeguard the health of employees, ensure business and supply chain continuity, and accelerate the development of a COVID-19 vaccine. 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. The NHMAs effort will help reach more Hispanic audiences with the facts and context they need to make informed decisions about getting vaccinated. But the 61-year-old cited family health reasons as partially motivating his departure. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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. 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. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. [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. Gorsky, whos been at the helm for nine years, will become executive chairman. He lives in Pennsylvania with his wife and has two grown children. 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