[2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. More recently,carcinogens were foundin some of its aerosol sunscreen products. Mr. Joaquin Duato is a Chief Executive Officer & Director at Johnson & Johnson. 1, Duato told CNBC's Meg Tirrell at Healthy Returns on Wednesday, is the opportunity "to create more progress in health in this decade than we have seen in the last 100 years.". Got a confidential news tip? We have to make specific outreach to women on the STEM side. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. 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. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Aug 19, 2021 11:00PM EDT. All rights reserved. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. 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. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. We are also taking action to support health equity in communities of color, working with partners to educate the most at-risk about vaccines and working with our partners to advance racial and ethnic health equity in COVID-19 treatment and care through a series of targeted COVID-19 focused programs. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. 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. 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. Johnson & Johnson is part of the Holding Companies & Conglomerates industry, and located in New Jersey, United States. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. It is extremely important for us to collaborate worldwide to help combat this disease. I believe that moving forward, we will take the lessons we have learned from the COVID-19 pandemic humanitarian crisis as we look to consider and prioritize the health of all communities, patients, consumers, and their families. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. LL: What was the basis for J&J to pursue emergency use authorization? There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Even with a massive dip during last years market crash, the shares have gained 22% since the beginning of 2020. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. #jnj #mycompany #data #innovation 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. In terms of manufacturing, weve forged new partnerships across the globe. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. [3], Duato began his career in Johnson & Johnson in 1989 when he joined Janssen Pharmaceutica in Spain. The bio: Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. His growth strategy led to the turnaround of Johnson & Johnsons struggling pharmaceutical business in the early 2000s. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. 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. Joaquin Duato helped mastermind the health giant's breakup. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. The reader is cautioned not to rely on these forward-looking statements. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More Wow, what an awesome event with such wonderful people! Duato doesnt overtly attribute Johnson & Johnsons enduring success to its organizational makeup, but he doesnt downplay its importance the same way many other pharma higher-ups do, either. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. Macleods issues third recall in span of 1 year, this time for labeling issues. 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. 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. (Bloomberg) -- Health-care giant Johnson & Johnson named Executive Committee Vice Chairman Joaquin Duato as the company's new chief executive officer, replacing Alex Gorsky, who will become executive chairman. He leads a global workforce of 135,000 employees in developing and delivering . Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? He lives in Pennsylvania with his wife and has two grown children. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. We want to hear from you. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. FORTUNE may receive compensation for some links to products and services on this website. Contact Us with any questions or search this site for more information. Recent surveys show Black and Hispanic adults are more likely to take a wait and see approach to getting a COVID-19 vaccine, but are also as likely as white adults to say they definitely will not take one. Duato will also be appointed to the board following his transition to. 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. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. 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. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. 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 understand that we have a reputation. Yet Duato plotted to rid itof itsconsumer-products legacy. Gorsky also started his J&J career over three decades ago as a sales representative with Janssen Pharmaceuticals in 1988, and had been at the helm of the company for nearly a decade. There is no bigger or better known health-care conglomerate in the world. 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. 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.. 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. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . (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 . Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. 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. Duato is a dual citizen of Spain and the United States. 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 . 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. 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. 08.23.21. Joaquin Duato, the new CEO of Johnson & Johnson, is comfortable enough in his new position at the 135-year-old company to issue a bold claim just a few months into the job and during his first interview: he predicts the next decade will see more health-care transformation than occurred during the past century. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. In 2021, the company invested more than $2 billion in innovation, an increase of 23% in the middle of the pandemic. [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. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. They opened my mind and made me think about higher goals. 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. Tylenol and Motrin are both over-the-counter medicines that are commonly used to relieve pain and reduce fevers. 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 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. Romaine Bostick breaks down the day's top stories and trading action leading into the close. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. 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. JD: The healthcare industry has undergone massive change. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. In September 2020, Janssen signed the vaccine maker pledgeto promise the public that decisions around the potential use of our vaccine candidate will be based purely on science and pre-existing guidelines from health authorities around the world. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Joaquin Duato, J&J CEO (Photo by Charles Sykes/Invision/AP) January 25, 2022 12:50 PM EST. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. [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. If he doesn't abandontradition for innovation, we will be left behind, he says. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. This site is governed solely by applicable U.S. laws and governmental regulations. 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. He leads a global workforce 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. All Rights Reserved. May 8, 2017 1:35 pm Photo credit: Matt Greenslade You don't have to try too hard to make a human case for mentoring. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology operations. Early life and education [ edit] Duato grew up in Valencia, Spain. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? He was also appointed to the companys board of directors. 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. He spent nearly a decade as executive sponsor for the African Ancestry Leadership Council employee resource group and is committed to building an inclusive workforce that reflects the patients J&J serves. Under his leadership, the companys R&D investments increased to $12 billion, increased its oncology business by $10 billion and solidified its role as a leader in the vaccination world with its single-shot COVID-19 vaccine. Our Standards: The Thomson Reuters Trust Principles. 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. From 2018, he added responsibilities for the company's consumer business,. we must have a workforce that generally reflects that ethnic and . 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