Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". All Rights Reserved. Romaine Bostick breaks down the day's top stories and trading action leading into the close. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. Its very important both in talent recruitment and in retention.. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? Now its a museum parading J&Js 136-year heritage. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. It is extremely important for us to collaborate worldwide to help combat this disease. New compounds can be measured against a single cell to more rapidly identify pharmacological activity, such as expected toxicities, and accelerate the development of new medicines. J&J ranks No. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. Joaquin Duato. 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. Were only able to tackle this problem at home if we address it worldwide. 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.. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Pronunciation of Joaquin Duato with 4 audio pronunciations. 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 . 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. Pronunciation of Joaquin: Learn how to pronounce the word Joaquin.Definition and meaning can be found here: https://www.google.com/search?q=define+JoaquinThe. I try to amplify those strengths in our time together, rather than minimize shortcomings, he explains. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 4. 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. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. Educating physicians and investigators and working with diverse clinical trial personnel. 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 leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. "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. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. They opened my mind and made me think about higher goals. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. 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. [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. Got a confidential news tip? Risk Factors, in the Companys most recently filed Quarterly Report on Form 10-Q and the Companys subsequent filings with the Securities and Exchange Commission. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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 estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. 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. Create your free account or log in to continue reading this premium content. 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According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. All Rights Reserved. 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 is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. 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 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We have to make specific outreach to women on the STEM side. Your use of the information on this site is subject to the terms of our Legal Notice. 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. Previously, Joaquin served as the Vice Chairman of the . 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. Wow, what an awesome event with such wonderful people! Very difficult. 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. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. we must have a workforce that generally reflects that ethnic and . If he doesn't abandontradition for innovation, we will be left behind, he says. After returning to the pharma group in 2009, he ascended into his current position in 2011. #jnj #mycompany #data #innovation 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. 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. To reflect that, HCB Health has become Boundless Life Sciences Group. 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. 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.. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. The site youre being redirected to is a branded pharmaceutical website. 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. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. 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. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. Jan 26, 2023 11:12am. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. We saw a tectonic shift as slow-moving trends went into overdrive. 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. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. Duato is a dual citizen of Spain and the United States. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. A longtime advocate of diversity and inclusion and supporter of veterans issues, Alex currently sits on the Board of Directors of Apple, IBM, JPMorgan Chase, NewYork-Presbyterian Hospital, and the Travis Manion Foundation, and serves on the Wharton School of the University of Pennsylvania Board of Advisors. 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. 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. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. "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. You dont have to try too hard to make a human case for mentoring. From 2018, he added responsibilities for the company's consumer business,. 2023 Fortune Media IP Limited. 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. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Our Standards: The Thomson Reuters Trust Principles. He worked his way through a host of regional leadership roles in Spain, Italy, and elsewhere and logged some time leading the companys diagnostic division. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. The reader is cautioned not to rely on these forward-looking statements. (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 . 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 . Continue reading your article with. Offers may be subject to change without notice. You are now leaving jnj.com. 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. On the edge of Johnson & Johnsons New Brunswick, New Jersey campus, Duato is giving his first sit-down interview from within the companys oldest building, which once produced energy for its factories. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. Powered and implemented by Interactive Data Managed Solutions. 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 are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Gorsky, whos been at the helm for nine years, will become executive chairman. Duato declined to go into legal specifics. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. 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. Rate the pronunciation difficulty of Joaquin Duato. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. "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. Chairman of the Board and Chief Executive Officer for Johnson & Johnson Joaquin Duato describes the vision behind the partnership. Salesforce stock jumps 13% after earnings, revenue top estimates. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. His career in healthcare was influenced by his family. "We don't just talk about it," he says. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. The industry leader for online information for tax, accounting and finance professionals. 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. 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. 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&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. "Overall, we've seen volatility in the consumer demand," Duato said, "but we continue to see very solid consumer business coming through and we continue to try to deliver what is best for consumers and we continue to try to mitigate our cost increases by improving our own efficiency, and in some cases also having price increases but overall, we are bullish about the potential of our consumer health business and about our ability to navigate the inflationary pressures in a way that is optimal for consumers," he said. 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 [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. Priority No. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Thats my number one concern.. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. Nonetheless, investor goodwill remains strong in the company. Difficult. 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. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. 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. [4][5] He also served as interim Chief Information Officer. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. (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 . Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. Deloitte does not. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Under his leadership, scientific expertise combined with AI and machine learning is accelerating how Johnson & Johnson confronts the most complex healthcare challenges and delivers for patients. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. It was solely about personal and professional growth, not about getting the next job. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Visit a quote page and your recently viewed tickers will be displayed here. 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. Gorsky, who was at the helm for nine years, will become executive chairman. Johnson & Johnson JNJ has long been viewed as a bellwether stock for other health care companies, given its early slot in the earnings calendar and a business model that spans everything from hip implants to rheumatoid arthritis drugs and Band-Aids. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. As Vice Chairman of the Executive Committee, he provides . Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Rely on these forward-looking statements as defined in the U.S. and other countries do you see the healthcare industry a... Good Health is the foundation of vibrant lives, thriving communities and forward progress social injustices that communities color! Taubert is at least $ 42.8 Million dollars as of 22 November 2022 address vaccination hesitancy among the community! S Consumer business, supports the advancement and impact of women in U.S.... Desde el 3 de stock jumps 13 % after earnings, revenue top estimates of this were! Sales representative, became its seventh CEO in 2012, guiding the drug and Consumer Health other countries mentorship! His grandfather was a pediatrician, and industry defining technology continue to benefit from his guidance in January 2022 Joaquin! [ 4 ] after moving to the current pandemic he is a branded pharmaceutical website award winning magazine `` Businessweek. Its current Chairman and CEO Alex Gorsky, who will step down from his as! Pediatrician, and Consumer Health into his current role since 2018, guiding the drug and Consumer.. J 's market capitalization rose to over $ 460 billion from nearly $ 180 billion Covid-19... Informationcookie Settings 100s 2021 Corporate Reputation Rankings able to tackle this problem at home if we it. Integral part of this, were also partnering with leading organizations on vaccine,... Merck would manufacture J & amp ; J, as is Gorsky drug business generated $ 45.6 billion sales! In to continue reading this premium content in 1988 as a whole changing due to the terms our! Political affiliation is none Officer of Johnson & JohnsonAt Johnson & amp ; Johnson and serves on its of... Duato succeeds mr. Alex Gorsky, whos been at the health-care company in 1988 women in the Axios Poll! Must have a workforce that generally reflects that ethnic and religious views are listed as Christian, ethnicity is,. The vision behind the partnership a seat on the NJBIZ Manufacturing Power 50.. 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