Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. 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. Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. Pharma. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. The estimated Net Worth of Jennifer L Taubert is at least $42.8 Million dollars as of 22 November 2022. . Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. All Rights Reserved. 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. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. On this Wikipedia the language links are at the top of the page across from the article title. Duato is a dual citizen of Spain and the United States. "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. by Caroline Vakil - 08/19/21 7:18 PM ET. Joaquin Duato (born April 1962) is a Spanish-American business executive. It is extremely important for us to collaborate worldwide to help combat this disease. Difficult. As a dual citizen of Spain and the United States, his international perspective and global lens gives him a deep appreciation of diverse thoughts and opinions. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Please click below to continue to that site. He added that he saw a profound impact of Johnson & Johnsons medicines over his 30-year career with the company, which includes investment in research and development and drove global advances in healthcare over the past decade. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Gorsky, who was at the helm for nine years, will become executive chairman. 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. Please see 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. 2023 CNBC LLC. 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. 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. See here for a complete list of exchanges and delays. LL: Why is it important to have collaboration among the global public health community in times of crises? Reducing and/or removing logistical barriers for underrepresented populations. 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. The rules of the past no longer apply after the seismic events of the past three years. Romaine Bostick breaks down the day's top stories and trading action leading into the close. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. They are part of the Executive team within the C-Suite Department Joaquin graduated from ESADE Business & Law School and is currently based in New . Duato will also be appointed as a member of the company's Board of Directors. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. The decision to step aside was one of the most difficult of my career. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . From 2018, he added responsibilities for the company's consumer business,. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Representation and inclusion is part of our DNA. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. And while Duato isnt the type of leader who preaches from a soapbox, he believes that pharma needs to prioritize mentoring especially of top-flight women scientists far more than other industries do. Wow, what an awesome event with such wonderful people! Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. JD: The healthcare industry has undergone massive change. LL: Now that the vaccine is available, how can we drive access and uptake in the Latinx community? We want to hear from you. Joaquins appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Boards thoughtful and engaged approach to succession planning. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. 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. "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. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 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.". 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. Duato is a dual citizen of Spain and the United States. I also want to thank Alex for his countless contributions to our Company. LL: What was the basis for J&J to pursue emergency use authorization? 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. Gorsky, whos been at the helm for nine years, will become executive chairman. 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.. Thats my number one concern.. 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. Aug 19, 2021 11:00PM EDT. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Tras 30 aos en la compaa: "La decisin ha sido una de las ms difciles de mi carrera" AboutPressCopyrightContact. "I see a future in which all medical devices would be smarter, connected to the cloud, being able to provide data to the surgeons for them to be able to in real time deliver better surgical outcomes," he said. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, 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. Joaquin has long believed in the power of technology to accelerate progress in healthcare. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? 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. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. 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. 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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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 . Prior to becoming Johnson & Johnsons latest CEO, Duato has spent more than 30 years working within the organization he will soon be heading. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Nonetheless, investor goodwill remains strong in the company. Contact Us with any questions or search this site for more information. He lives in Pennsylvania with his wife and has two grown children. All Rights Reserved. Related: For more recent diversity and inclusion news, click here. After returning to the pharma group in 2009, he ascended into his current position in 2011. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. All rights reserved. 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. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. All Rights Reserved. Macleods issues third recall in span of 1 year, this time for labeling issues. J&J declined to make Gorsky and Duato available for comment. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. 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. 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. J&J veteran Duato replaced Gorsky as CEO earlier this year after . During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. Very difficult. 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. Our Standards: The Thomson Reuters Trust Principles. Maya Tsukernik you are amazing, congratulations on a great job!!! that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. [9] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list.[10]. 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. 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. Continue reading your article with. 1 killer, Why Delta Air Lines' health chief thinks the airplane mask mandate will soon be lifted, Walgreens turns to robots to fill prescriptions, as pharmacists take on more responsibilities. It's a role that builds on his 33-year career at the company, working across all business sectors and in multiple countries around the globe. 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. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. Joaquin Duato - Chief Executive Officer Conference Call Participants Louise Chen - Cantor Fitzgerald Larry Biegelsen - Wells Fargo Joshua Jennings - Cowen and Company Christopher Schott -. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. But the 61-year-old cited family health reasons as partially motivating his departure. 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