JD: The healthcare industry has undergone massive change. 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. Evolution in the healthcare marketing and communications space requires an agile team that is solutions oriented and sees beyond barriers with a how can it be done mindset. See here for a complete list of exchanges and delays. As a member of the Company for more than 30 years, Joaquin was named Company Group Chairman of the Americas in 2009 and Executive Vice President and Worldwide Chairman, Pharmaceuticals in 2011. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. 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. 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. We also saw an urgent need to strengthen our global public health systems because the pandemic also pulled back the curtain on pressing healthcare challenges. They created a strong foundation of trust and collaboration and mutual respect.. Difficult. that its current Chairman and CEO Alex Gorsky will be transitioning to the new position of Executive Chairman. Yet Duato plotted to rid itof itsconsumer-products legacy. 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. 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. J&J's Joaquin Duato: Diversity is 'essential' Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Already a speaker of English, Spanish and Italian, he used that brief stint to learn a different language. 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. Any forward-looking statement made in this release speaks only as of the date of this release. Despite his incredible success, he was also quick to add just how excited he was to pass the companys rings to his successor. 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. 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. All Rights Reserved. Related: For more recent diversity and inclusion news, click here. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. 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. And what we do best is to continue to develop medicines, medical devices, consumer products that improve consumer lives and also are able to address patients' needs.". "We understand that we have a reputation. Aug 19, 2021 11:00PM EDT. From 2018, he added responsibilities for the company's consumer business,. Along with its drugs unit, its medical devices and consumer products divisions have rebounded sharply from the pandemic. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. Thats why its so important for us to engage in these types of conversations to help answer questions and dispel myths about vaccines. La farmacutica estadounidense Johnson & Johnson (J&J) anunci . 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. Joaquin Duato is best known for driving the transformation of Johnson & Johnsons 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 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 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. 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. I also want to thank Alex for his countless contributions to our Company. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. J&J ranks No. 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 is extremely important for us to collaborate worldwide to help combat this disease. Johnson & Johnson announced Thursday evening that Joaquin Duato will become CEO effective Jan. 3, replacing Alex Gorsky. 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. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Duato, 59, has been working for the company for over 30 years. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. 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. "We don't just talk about it," he says. Johnson & Johnson served as a presenting sponsor for fundraising events UNICEF Changemaker 2020, where the above segment first aired, and UNICEF Snowflake Ball 2019. Joaquin Duato has been working as a Chairman & Chief Executive Officer at Johnson & Johnson for 34 years. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. CVS and Walgreens confirmed last month that their pharmacies were limiting the. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Thats why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Johnson & Johnson announced on Thursday that its current CEO Alex Gorsky will step down from his role and Joaquin Duato will take the helm in January . Behind him are 19th century baby soaps, 100-year-old Band-Aids, and other timeworn products that made Johnson & Johnson into a household name. Esade Alumni has announced the winner of the 2022 Esade Award: Joaqun Duato, CEO of Johnson & Johnson and Esade alumnus. He leads a global workforce of 135,000 employees in developing and delivering . 2023 Fortune Media IP Limited. . Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. We have lots of information about Joaquin: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is none. The industry leader for online information for tax, accounting and finance professionals. His career in healthcare was influenced by his family. A Division of NBCUniversal. 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. Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. 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. FORTUNE may receive compensation for some links to products and services on this website. 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. Duato added that he has worked closely with Gorsky for many years and will continue to benefit from his guidance. 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. 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. "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. As Vice Chairman of the Executive Committee, he provides . (Bloomberg) -- Health-care giant Johnson & Johnson named Executive Committee Vice Chairman Joaquin Duato as the company's new chief executive officer, replacing Alex Gorsky, who will become executive chairman. 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. "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. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. 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