Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. 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. It has been an honor and privilege to lead this company as Chairman and CEO for nearly a decade, and I am pleased to serve as Executive Chairman to help oversee Johnson & Johnsons ongoing progress in improving the health of people and communities everywhere, Gorsky said in a statement. The industry leader for online information for tax, accounting and finance professionals. To meet the needs and desires of our customers and community, we must have a workforce that generally reflects that ethnic and racial diversity. 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. 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. Contact Us with any questions or search this site for more information. In addition, she makes $7,097,300 as Executive Vice President - Worldwide Chairman and . LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? Today, as the worlds largest diversified healthcare products company, we are committed to using our reach and size for good. 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. I try to understand the individual and what strengths they have, the ones that make the person special and different, he says. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? Joaquin Duato is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, the worlds largest, most diversified healthcare products company. 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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. "Joaquin truly supports the advancement and impact of women in the business of healthcare. If he doesn't abandontradition for innovation, we will be left behind, he says. They averaged a 15% annual return, in line with the S&P 500 Index. 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. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. The role of Telehealth and remote working was more present than ever, and COVID-19 put the spotlight on personal and preventative health. 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. "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. 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. They created a strong foundation of trust and collaboration and mutual respect.. 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. Create your free account or log in to continue reading this premium content. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. 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. 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. 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. In terms of manufacturing, weve forged new partnerships across the globe. This site is governed solely by applicable U.S. laws and governmental regulations. Were only able to tackle this problem at home if we address it worldwide. Interview by Mariana G. Briones Lideres Mexicanos guest editor for Latino Leaders. As Vice Chairman of the Executive Committee, he provides . Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. JD: At this crucial moment, our society needs as many adults as possible to get vaccinated, and as quickly as possible. 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. 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. In the U.S., this included significant representation of Black, Hispanic/Latinx, American Indian and Alaskan Native participants in the ENSEMBLE clinical trial. Implementing tools and strategies to raise patient awareness and understanding of clinical trials to successfully enroll high percentages of underserved populations, 2. 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. 1. Maya Tsukernik you are amazing, congratulations on a great job!!! Powered and implemented by Interactive Data Managed Solutions. Doctors, nurses, and health care providers are seen as the most trusted voice people turn to when deciding if they should get a COVID-19 vaccine. Johnson & Johnson Location 1 Johnson & Johnson Plaza, New Brunswick, New Jersey, 08933, United States Description Read More JD: The virus does not recognize borders. According to Johnson & Johnson, Gorsky has been the companys Chairman and Chief Executive Officer since 2012. [4][5] He also served as interim Chief Information Officer. Incoming CEO Duato has also spent about 30 years with Johnson & Johnson. The best ideas and solutions happen when people bring their uniqueness to work with them. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Joaquin Duato is responsible for Johnson & Johnson's Pharmaceuticals and Consumer sectors, along with Supply Chain, Technology and Health & Wellness. The medtech business grew 16% in 2021 even as Covid limited procedures, and advancements in surgery using AI are among the breakthroughs that the new CEO is betting on. Yet Duato plotted to rid itof itsconsumer-products legacy. 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 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. Chairman of the Board and Chief Executive Officer. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? These statements are based on current expectations of future events. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. . The site youre being redirected to is a branded pharmaceutical website. 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. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Aug 19, 2021 11:00PM EDT. 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 . Related: For more recent diversity and inclusion news, click here. Once highly anticipated because it requires just a single dose, J&Js Covid vaccine has been sparsely used relative to competitors from the Pfizer Inc.-BioNTech SE partnership and Moderna Inc. after challenges at a contract manufacturer. 2. Data is a real-time snapshot *Data is delayed at least 15 minutes. For a global organization like ours, its essential to be a diverse company in gender, ethnicity, geographic origin, educational background, and more. 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. 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. 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