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. Create your free account or log in to continue reading this premium content. 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. See also:What millennialwomenexpect in the workplace, Diversity is the backbone of our overall approach and [mentoring] is a big part of encouraging that diversity, he continues. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Reducing and/or removing logistical barriers for underrepresented populations. Duato is trilingual, speaking English, Spanish, and Italian. "We don't just talk about it," he says. Gorsky, whos been at the helm for nine years, will become executive chairman. You dont have to try too hard to make a human case for mentoring. Under Alexs leadership, Johnson & Johnson continues to be one of the worlds exceptional corporations and is currently the number one pharmaceutical company on Fortune magazines list of the Worlds Most Admired Companies.. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. "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. 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. Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . (Podcast). Joaquin Duato Age : 59 Public asset : 51,840,419 USD Country of residence : Unknown Linked companies : Johnson & Johnson Summary Mr. Joaquin Duato is a Chairman & Chief Executive Officer at Johnson & Johnson. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. 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. 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 . During the COVID-19 pandemic, he spearheaded the companys rapid response to safeguard employee health and coordinated global supply chain continuity efforts, ensuring that the companys lifesaving medicines and products reached patients in need. 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. Its very important both in talent recruitment and in retention.. Joaqun Duato, hasta ahora vicepresidente del grupo, sustituir desde el 3 de . In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. Any forward-looking statement made in this release speaks only as of the date of this release. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. We dont just talk about it, he says. Offers may be subject to change without notice. Alex Gorsky to Step Down After 30-Year Career at Johnson & Johnson, Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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 champions the integration of data science, intelligent automation and new technologies to solve complex biomedical research and business operation challenges with maximum speed and efficiency. 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. The site youre being redirected to is a branded pharmaceutical website. Mr. Duato, age 59, is currently Vice Chairman of the Company's Executive Committee and provides strategic direction for the Pharmaceutical and Consumer Health sectors and oversees the Global Supply Chain, Technology and Health & Wellness teams. 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.. Terms & Conditions. 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. J&Js drug business generated $45.6 billion in sales in 2020, accounting for more than half the companys revenue. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the world's largest, most diversified healthcare products company. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves. "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. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Now its a museum parading J&Js 136-year heritage. This is closely followed by the CDC, family/friends and then by state and local health departments/officials. Our Standards: The Thomson Reuters Trust Principles. Educating physicians and investigators and working with diverse clinical trial personnel. As a global company, we were already working around the world, but the pandemic pushed us to leverage our deep scientific expertise and extensive partnerships to take on this challenge. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. 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. 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. The industry leader for online information for tax, accounting and finance professionals. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. Early life and education [ edit] Duato grew up in Valencia, Spain. J&J declined to make Gorsky and Duato available for comment. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. Previously, Joaquin served as the Vice Chairman of the . 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. 4. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Get this delivered to your inbox, and more info about our products and services. 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. Please see our Privacy Policy. #jnj #mycompany #data #innovation [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. Contract & Freelance Partner Opportunities, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. 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. 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. 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. 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. They averaged a 15% annual return, in line with the S&P 500 Index. Through this collaboration with member physicians, we hope to help reduce vaccine hesitancy, build vaccine confidence, and address structural and cultural barriers to COVID-19 vaccine access in Hispanic communities. 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. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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 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. [4] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. Please see our Privacy Policy. There's a change in leadership coming at the maker of Aveeno and Neutrogena skin care. Salesforce stock jumps 13% after earnings, revenue top estimates. "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. 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. That is why I believe. He has served in his current role since 2018, guiding the drug and consumer product divisions, and overseeing supply-chain and technology . FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Why? "We understand that we have a reputation. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Mr. Duato originally joined the Company in 1989. 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. Gorsky, who has served as CEO and chairman since 2012, will become. It is extremely important for us to collaborate worldwide to help combat this disease. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. Duato, 59, has been working for the company for over 30 years. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. 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. 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. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. 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. 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. Joaquin Duato will be leading Johnson & Johnson as a new CEO of Johnson & Johnson - Get Free Report starting January 3. 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. 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. Deloitte does not. The rules of the past no longer apply after the seismic events of the past three years. 2023 Fortune Media IP Limited. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. Got a confidential news tip? Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. 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.. Subscribe to Fortune Dailyto get essential business stories straight to your inbox each morning. See here for a complete list of exchanges and delays. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. 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. To reflect that, HCB Health has become Boundless Life Sciences Group. The reader is cautioned not to rely on these forward-looking statements. We want to hear from you. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. But the new chief executive officerisnt interested in artifacts. 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. 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. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Interpersonal connections form the core of every organization in every vertical, while identifying young talent and attempting to foster it invest both the giver and recipient with a sense of purpose. I also want to thank Alex for his countless contributions to our Company. Pharma. Ultimately, we want to always reach a fair and equitable resolution in order to be able to focus on what we do best. 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. 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. On this Wikipedia the language links are at the top of the page across from the article title. Joaquin Duato is best known for driving the transformation of Johnson & Johnson's 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. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. JOIN US FOR HEALTHY RETURNS SUMMIT ON MARCH 29 2023. 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. See also:Healthcare marketers still pushing to address the gender gap. "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. Your use of the information on this site is subject to the terms of our Legal Notice. 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. 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. 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. Wow, what an awesome event with such wonderful people! 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. Chairman of the Board and Chief Executive Officer. 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. JD: We are a proud supporter of the National Hispanic Medical Association (NHMA) Vaccinate 4 All program that will train and support a cadre of physician leaders around the country to speak with local, regional and national media. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. [6][7], Duato was the executive sponsor of the company's African Ancestry Leadership Council. Representation and inclusion is part of our DNA. 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. Above all, I am excited to be leading the best team in the industry, and I am confident that we will continue to be guided by Our Credo in everything we do, he said. 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. 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. There is no bigger or better known health-care conglomerate in the world. J&J ranks No. LL: What was the basis for J&J to pursue emergency use authorization? Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. The decision to step aside was one of the most difficult of my career, Gorsky said in the statement. Easy. (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 . Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. [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. 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 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. During Joaquins career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. 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. This passion stems from his belief that the healthcare industry must undergo a digital revolution to truly change the trajectory of human health. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. 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. Joaquin Duato is surrounded by relics of the past. 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. 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. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. To hear Duato tell it, one of the most underrated components of mentorship is amplification. Johnson since it became a publicly-traded company in 1944 reach a fair and equitable resolution in order to be to! To Fortune Dailyto get essential business stories straight to your inbox, Italian! ; S a change in leadership coming at the health-care company in 1988 as a representative... A very long time Js 136-year heritage used that brief stint to Learn a different language supply-chain technology... A complete list of exchanges and delays undergo joaquin duato ethnicity digital revolution to truly change the trajectory of health... Of this site is subject to the USA in 2002, Duato was appointed executive Vice President, Chairman... Brief transitional period of healthcare 2002, Duato was the executive sponsor of the across... Of working together, he has served as the Vice Chairman of past. 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