Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. A dual citizen of Spain and the United States, Joaquins international perspective gives him a deep appreciation of diversity in all forms. I also want to thank Alex for his countless contributions to our Company. 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. #jnj #mycompany #data #innovation He is a member of high profile boards, including the Business Council and the Business Roundtable. Maya Tsukernik you are amazing, congratulations on a great job!!! Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. The vaccine technology platform was designed to help the global health community better prepare for and combat life threatening infectious disease outbreaks and aided in the accelerated development of vaccines. 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.. 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. New J&J CEO Joaquin Duato promises an aggressive M&A hunt in quest to grow pharma sales. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. "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. "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. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. A dual citizen of Spain and the U.S, Duato has been lauded internally for helming J&J's drug business from 2009 to 2011 pivotal years for the pipeline helping the pharmaceutical unit become. 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.". To hear Duato tell it, one of the most underrated components of mentorship is amplification. Aug 19 (Reuters) - Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the. 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. 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. As Vice Chairman of the Executive Committee, he provides . We walk the walk.. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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 largest trade he's ever made was exercising 148,538 units of Johnson & Johnson stock on 17 January 2023 worth over $10,774,947. Get this delivered to your inbox, and more info about our products and services. Create your free account or log in to continue reading this premium content. 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 officer, giving him key insights into the role of technology in health care. 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 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. On this Wikipedia the language links are at the top of the page across from the article title. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. During his 30-plus year career at J&J, Duato led multiple business divisions, geographies and functions. 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. (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 . Alex Gorsky will step down as chief executive of Johnson & Johnson in January, ceding the role to longtime company executive Joaquin Duato, the health care giant announced Thursday. They opened my mind and made me think about higher goals. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. More recently,carcinogens were foundin some of its aerosol sunscreen products. You dont have to try too hard to make a human case for mentoring. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. 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. LL: Why is it important to have collaboration among the global public health community in times of crises? 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. JD: The healthcare industry has undergone massive change. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Got a confidential news tip? Joaquin has long believed in the power of technology to accelerate progress in healthcare. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Dow Inc and private company X-energy said on Wednesday they have agreed to develop and demonstrate the first grid-scale next-generation nuclear reactor for an industrial site in North America. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. During his tenure, J&J's market capitalization rose to over $460 billion from nearly $180 billion. We saw a tectonic shift as slow-moving trends went into overdrive. Gorsky also dramatically increased diversity, equity, and inclusion within the company, serving as the driving force behind many of Johnson & Johnsons DE&I initiatives, including its $100 million pledge to fight health inequities for communities of color in the U.S., the company said. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. Duato grew up in Valencia, Spain. 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. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Duato is a dual citizen of Spain and the United States. Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. 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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Chairman of the Board and Chief Executive Officer. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. It was solely about personal and professional growth, not about getting the next job. 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. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. "We don't just talk about it," he says. 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. 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. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . 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