Joaquin Duato. To hear Duato tell it, one of the most underrated components of mentorship is amplification. 3 /5. Whenever [mentorship is used] that way, it can lead to misunderstandings and frustration, he admits. Duato is a dual citizen of Spain and the United States. Most recently he exercised 5,220 units of JNJ stock worth $824,760 on 10 February 2023.. We know that Joaquin is single at this point. 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. 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. 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. 8 Enthusiasm for getting the COVID-19 vaccine continues to grow among people across racial and ethnic backgrounds, with the largest increase among Black adults. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Xi Jinping Doesnt Love Them Back, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, Iran Schoolgirls Targeted by MorePoison Attacks, Sparking Protests, NFL Loses Bid to Arbitrate Ex-Miami Coachs Race-Bias Claims, EU Seeks to Salvage Combustion-Engine Ban After Germany Balks, Gas Stoves Are One Step Closer to New Rules, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 2. 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 . He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. If he doesn't abandontradition for innovation, we will be left behind, he says. 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. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. Pharma. 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. Early life and education [ edit] Duato grew up in Valencia, Spain. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Contact Us with any questions or search this site for more information. Johnson & Johnson went to another insider to lead the health-care giant through the pandemic, naming Joaquin Duato to replace longtime veteran Alex Gorsky. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Moderate. All Rights Reserved. (18 votes) Very easy. JD: The virus does not recognize borders. The rules of the past no longer apply after the seismic events of the past three years. 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. That is why I believe. You are now leaving jnj.com. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. 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. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. 2023 Fortune Media IP Limited. Duato grew up in Valencia, Spain. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. All quotes delayed a minimum of 15 minutes. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. As part of this, were also partnering with leading organizations on vaccine education, including the National Hispanic Medical Associations #Vaccinate4All effort. Reducing and/or removing logistical barriers for underrepresented populations. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? They created a strong foundation of trust and collaboration and mutual respect.. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. We have to mentor and encourage the people who are here., From the May 01, 2017 Issue of MM+M - Medical Marketing and Media. The best ideas and solutions happen when people bring their uniqueness to work with them. We walk the walk.. All rights reserved. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? 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. 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 . "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. 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. 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. A Division of NBCUniversal. 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. by Caroline Vakil - 08/19/21 7:18 PM ET. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. Duato will also be appointed as a member of the company's Board of Directors. 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. Gorsky, 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. 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. Johnson & Johnson is spinning off its consumer health business from its biotech and medical technology and forming two companies. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. 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. 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. His career in healthcare was influenced by his family. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. See also:Analysis: Gender, racial diversity among CMOs shows little sign of progress. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. 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. Duato is a dual citizen of Spain and the United States. 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. We want to hear from you. "For the consumer health company, it's going to be an opportunity to deepen the relationships with consumers to attract new investors, to inspire employees, and to be able to have a fit-for-purpose model with their own capital location priorities and then for the new Johnson & Johnson it is going to be an opportunity to be more focused, more competitive and to deliver increased growth," Duato said. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. 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. With these additions to our global manufacturing network, we are committed to delivering 100 million single-shot doses of our COVID-19 vaccine to the U.S. government, and delivering 200 million doses to the European Union, Norway and Iceland. 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. 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. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. 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 El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Maya Tsukernik you are amazing, congratulations on a great job!!! We understand that we have a high bar and a high expectation from society overall.Yes, we have some challenges when you refer to the litigation. Gorsky, who has served as CEO and chairman since 2012, will become. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. On this Wikipedia the language links are at the top of the page across from the article title. Create your free account or log in to continue reading this premium content. Anne Mulcahy, J&Js lead independent director, said the board engaged in thoughtful long-term succession planning. She described Duato as an effective and committed leader who has been critical to the companys growth. Joaquin Duato: Diversity of thought and opinions in the pharmaceutical industry is critical just as it is in every business. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. 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.. LL: What was the basis for J&J to pursue emergency use authorization? We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. He is a respected industry leader and past Chairman of the Pharmaceutical Research and Manufacturers of America. This site is governed solely by applicable U.S. laws and governmental regulations. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 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. 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. Deloitte does not. 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. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. Joaquin has long believed in the power of technology to accelerate progress in healthcare. Duato will also be appointed to the board following his transition to. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Why? Easy. Previously, Joaquin served as the Vice Chairman of the . We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. LL: Why is it important to have collaboration among the global public health community in times of crises? "That's a sign of how much we believe in the opportunity that I was describing of combining science and technology to deliver improvements in patient care," Duato said. 2023 CNBC LLC. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Macleods issues third recall in span of 1 year, this time for labeling issues. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. All Rights Reserved. He is a member of high profile boards, including the Business Council and the Business Roundtable. 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. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Joaquin Duato (born April 1962) is a Spanish-American business executive. 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. We saw a tectonic shift as slow-moving trends went into overdrive. Duato, who served as interim CIO at Johnson and Johnson for almost a year in 2019, said that role gave him insights into how artificial intelligence and automation can make surgery smarter. 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. 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. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. 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. 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. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. He leads a global workforce in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. "I'm very bullish about the potential of technology in accelerating discovery and developing new medicines.". 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. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. Related: For more recent diversity and inclusion news, click here. New Brunswick, N.J., November 30, 2022 Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has elected Chief Executive Officer, Mr. Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. 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. Duato, 59, has been working for the company for over 30 years. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. Salesforce stock jumps 13% after earnings, revenue top estimates. 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. 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