During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. The current economic situation is "volatile," Duato said, with inflationary headwinds in the supply chain and availability of important raw materials and components, though he said the company's scale as the largest health-care firm helps and the guidance it already provided to the market earlier in the year showed a healthy growth rate in revenue and in earnings per share. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. LinkedIn has officially entered its cringe era, and its working. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. Difficult. 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. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. Create your free account or log in to continue reading this premium content. If he doesn't abandontradition for innovation, we will be left behind, he says. 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Duato declined to go into legal specifics. 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. Mr. Duato JNJ stock SEC Form 4 insiders trading. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? All Rights Reserved. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. Gorsky, whos been at the helm for nine years, will become executive chairman. We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Chairman of the Board and Chief Executive Officer. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Next Tuesday, when the company is set to reveal its fourth-quarter performance, investors will also be paying attention to what Joaquin Duato, a longtime J&J exec who became CEO earlier this month, has to say about the direction of the company. 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. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. 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. 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. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned Cautionary Note Regarding Forward-Looking Statements and Item 1A. As Vice Chairman of the Executive Committee, he provides . And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". Contact Us with any questions or search this site for more information. Now vice chairman of the executive committee, Duato will take the reins effective Jan. 3 and take a seat on the companys board, J&J said in a statement late Thursday. we must have a workforce that generally reflects that ethnic and . 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. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. They averaged a 15% annual return, in line with the S&P 500 Index. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. The best ideas and solutions happen when people bring their uniqueness to work with them. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Pharmaceutical Companies of Johnson & Johnson, Reimagining the Way Healthcare Is Delivered, Meeting the Personal Care and Wellness Needs of Consumers Worldwide, Advancing New Healthcare Solutions Through Collaboration, Learn About the Company's Rich Heritage at Our Digital Museum. "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. 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. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. He started at the company in 1989, working in sales in his home country of Spain. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. 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. 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. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. 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. 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. Aug 19, 2021 11:00PM EDT. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 3 /5. 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. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. #jnj #mycompany #data #innovation To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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. 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. "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. Your use of the information on this site is subject to the terms of our Legal Notice. Over 34 years with the company, he developed a deep understanding of whats possible at Johnson & Johnson by working in all business sectors and across multiple geographies and functions. The industry leader for online information for tax, accounting and finance professionals. On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. We walk the walk.. 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. Joaquin Duato Johnson & Johnson Top 10% A 79/100 VS Dirk van de Put Mondelez International Top 15% A- 77/100 Johnson & Johnson vs Mondelez International CEO Comparison Summary Employees at Johnson & Johnson rank Joaquin Duato in the Top 10% of CEOs in New York. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. by Caroline Vakil - 08/19/21 7:18 PM ET. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Please click below to continue to that site. 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. 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. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. They created a strong foundation of trust and collaboration and mutual respect.. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Maya Tsukernik you are amazing, congratulations on a great job!!! articles a month for anyone to read, even non-subscribers! 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. This site is governed solely by applicable U.S. laws and governmental regulations. 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. From 2018, he added responsibilities for the company's consumer business,. Prior to that time, he held senior leadership positions over his 30-plus year career with the Company across multiple business sectors, geographics and functions. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. I also want to thank Alex for his countless contributions to our Company. CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. 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. The site youre being redirected to is a branded pharmaceutical website. 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. 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. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. 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