The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). [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. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Yet Duato plotted to rid itof itsconsumer-products legacy. 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. Joaquin Duato is surrounded by relics of the past. 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. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Alex Gorsky, currently chairman and CEO, will serve as executive chairman of Johnson & Johnson and transition the CEO role to Joaquin Duato, currently vice chairman of the company's executive committee, effective January 3, 2022. Joaquin Duato (born April 1962) is a Spanish-American business executive. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? Duato will also be appointed as a member of the company's Board of Directors. Jan 26, 2023 09:15am. 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. Create your free account or log in to continue reading this premium content. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. "We don't just talk about it," he says. 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. That diversity gets us closer to our customer base, Duato points out. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. It is influenced by factors such as confidence, convenience and complacency. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. Priority No. 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 part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Were only able to tackle this problem at home if we address it worldwide. LL: Why is it important to have collaboration among the global public health community in times of crises? 2023 Fortune Media IP Limited. 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. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. 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 . 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. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. Gorsky said Duato oversaw Johnson & Johnsons response to the COVID-19 pandemic and led the coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity.. 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. Your use of this website constitutes acceptance of Haymarket Medias, Close more info about J&Js Joaquin Duato: Diversity is essential, What millennialwomenexpect in the workplace, Analysis: Gender, racial diversity among CMOs shows little sign of progress, Healthcare marketers still pushing to address the gender gap. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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. 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. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. 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. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? 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. 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. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. El gigante de productos de gran consumo y farmacutico Johnson & Johnson tendr un consejero delegado espaol. 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. Jan 26, 2023 11:12am. He currently sits on the boards ofUNICEF USA, Tsinghua University School of Pharmaceutical Sciences and Hess Corp. Shares of New Brunswick, New Jersey-based J&J were little changed in trading after U.S. markets closed. #jnj #mycompany #data #innovation "We understand that we have a reputation. Joaquin Duato helped mastermind the health giant's breakup. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Reducing and/or removing logistical barriers for underrepresented populations. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. articles a month for anyone to read, even non-subscribers! His career in healthcare was influenced by his family. 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. The industry leader for online information for tax, accounting and finance professionals. LL: What was the basis for J&J to pursue emergency use authorization? 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. 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 is spinning off its consumer health business from its biotech and medical technology and forming two companies. 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. See also:Healthcare marketers still pushing to address the gender gap. A Division of NBCUniversal. Representation and inclusion is part of our DNA. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. (Podcast). Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. "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. Duato is a dual citizen of Spain and the United States. 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. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. Our Company has an unmatched healthcare platform: we are a global pharmaceutical leader with a robust pipeline of transformational and innovative medicines, our Medical Device business is at the forefront of applying cutting-edge technology to deliver physician and patient-centric products and solutions and our Consumer Health business continues to evolve its portfolio of iconic heritage brands and innovative growth brands, he said. All rights reserved. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. You are now leaving jnj.com. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. 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.. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. Duato is trilingual, speaking English, Spanish, and Italian. 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. We have to make specific outreach to women on the STEM side. 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. 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. To reflect that, HCB Health has become Boundless Life Sciences Group. 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. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. "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. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Its very important both in talent recruitment and in retention.. (18 votes) Very easy. This site is governed solely by applicable U.S. laws and governmental regulations. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. 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. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. J&J veteran Duato replaced Gorsky as CEO earlier this year after . 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. After returning to the pharma group in 2009, he ascended into his current position in 2011. 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. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. 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 . 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 . Get this delivered to your inbox, and more info about our products and services. Duato is the only major health industry CEO who has served as chief information officer. If he doesn't abandontradition for innovation, we will be left behind, he says. 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. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . 2. There is no bigger or better known health-care conglomerate in the world. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. It was solely about personal and professional growth, not about getting the next job. Gorsky, the . His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Data is a real-time snapshot *Data is delayed at least 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.. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. 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. 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. 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The reader is cautioned not to rely on these forward-looking statements. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. All Rights Reserved. by Caroline Vakil - 08/19/21 7:18 PM ET. In this podcast, Matt Botkin, SVP, business development (health systems) at Doceree, throws light on how the pharmaceutical industry can leverage technology to address the issue of healthcare affordability. The health giant 's breakup in 2011 its biotech and medical technology and forming two.... Become Boundless life Sciences group every age and every stage of life & # x27 ; s of... She makes $ 7,097,300 as Executive Vice President - worldwide Chairman and as confidence convenience... Appreciation of diversity in all forms advocacy groups, such as confidence, convenience and complacency able. Forward-Looking statement as a member of the past health has become Boundless life Sciences group unrivalled... 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