Now its a museum parading J&Js 136-year heritage. 72 in the Axios Harris Poll 100s 2021 Corporate Reputation Rankings. 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. As Vice Chairman of the Executive Committee, he provides . Poor or inadequate communication and information can negatively influence vaccination uptake and contribute to vaccine hesitancy. El espaol Joaqun Duato ser el nuevo CEO de Johnson & Johnson tras renunciar Gorsky. 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. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Johnson & Johnson has faced multiple lawsuits over products and medical devices, fromtalc to hip replacement and opioids, which have resulted in significant financial settlements, without any admission of wrongdoing, as well as ongoing litigation. Any forward-looking statement made in this release speaks only as of the date of this release. In his first interview as Johnson & Johnson CEO, Joaquin Duato says at CNBC's Healthy Returns that there will be more innovation in health care over the next ten years than in the past century. Jan 26, 2023 09:15am. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. All Rights Reserved. If he doesn't abandontradition for innovation, we will be left behind, he says. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 1. 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. "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. He earned an MBA from ESADE at Ramon Llull University in Barcelona, Spain. Mr. Duato JNJ stock SEC Form 4 insiders trading. It is influenced by factors such as confidence, convenience and complacency. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? "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. He started at the company in 1989, working in sales in his home country of Spain. (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 . CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. Over the last three decades, Alexs influence has truly shaped the global healthcare landscape and improved billions of lives, said Anne Mulcahy, Lead Independent Director. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. That was a better performance than rival drugmakers Pfizer Inc. and Merck & Co., though health-care investors who opted for high-flying biotech stocks did better the Nasdaq Biotechnology Index quadrupled in that span. 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. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. 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. Johnson & Johnson said Thursday that Joaquin Duato will transition to the role of CEO on January 3, replacing Alex Gorsky. J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device. In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Companys business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year. We walk the walk.. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. A Division of NBCUniversal. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. 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. 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. Duato is the only major health industry CEO who has served as chief information officer. Were only able to tackle this problem at home if we address it worldwide. As he takes the reins, he'll need to convince skeptics on Wall Street his pursuit of tech-industry luster goes far enough. 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. Dual Citizenship: Duato holds dual citizenship from Spain and the United States. 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. (Podcast). LL: How was Johnson & Johnson able to develop a vaccine in an accelerated timeframe while meeting ethical and scientific standards? J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. Duato said the company is gaining share in its priority medtech platforms and expects "good" performance this year. Offers may be subject to change without notice. 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. Inflation will remain a factor, as some pressures alleviate this year but others remain longer, Duato said. Please click below to continue to that site. We have to make specific outreach to women on the STEM side. "Mr. Duato's international . 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. 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. 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. Our Standards: The Thomson Reuters Trust Principles. Your use of the information on this site is subject to the terms of our Legal Notice. A dual citizen of both Spain and the U.S. and the current executive sponsor of Johnson & Johnsons African Ancestry Leadership Council, he assures that going forward, the company will remain committed to diverse thoughts and opinions under his leadership. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. LL: How do you see the healthcare industry as a whole changing due to the current pandemic? Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. "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. 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. Not surprisingly, Duato stresses the Honorable Mentor honoree by the role that mentoring played in his rise up the Johnson & Johnson corporate hierarchy. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Duato is a dual citizen of Spain and the United States. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Machine learning, when combined with genetics, is also accelerating the discovery and development of new medicines. Duato is a dual citizen of Spain and the United States. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. Yet Duato plotted to rid itof itsconsumer-products legacy. 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. "Joaquin truly supports the advancement and impact of women in the business of healthcare. 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. Pharma. 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. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. 5 To put better health in reach for everyone and drive vaccine uptake, we need to meet people where they are. 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 . 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. Most of all, I am humbled to lead our talented and dedicated team of 136,000 associates around the world, and I am immensely proud of how we have upheld the Companys 134-year legacy of delivering solutions to address the worlds most urgent, unmet healthcare needs, he said. 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. Gorsky, whos been at the helm for nine years, will become executive chairman. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . Veteran of J & Js 136-year heritage expects `` good '' performance this.! 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