"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. Meanwhile, Wall Street and Washington have long awaited Gorskys next move. After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. The reader is cautioned not to rely on these forward-looking statements. But the 61-year-old cited family health reasons as partially motivating his departure. Thats my number one concern.. 3 We also partnered closely with the US government throughout the development process to ensure we were meeting important ethical and scientific standards. 4. 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. Difficult. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . 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. 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. Pharma. From 2018, he added responsibilities for the company's consumer business,. I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Companys next CEO, Gorsky said. Under Duato, the leadership team for Johnson & Johnson's pharma group includes six women. Offers may be subject to change without notice. Our Credo is clear. Kenneth Frazier, Gorskys longtime counterpart at Merck, gave up his CEO role just weeks ago. [4][5] He also served as interim Chief Information Officer. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Gorsky joins a parade of blue-chip executives who are moving on after long careers punctuated by the pandemic. [3] Duato was appointed CEO in August 2021 which became effective on January 3, 2022. Mr. Duato has served as Johnson & Johnsons CEO and a member of the Board of Directors since January 3, 2022. (Podcast). 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. 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. Its very important both in talent recruitment and in retention.. (RTTNews) - Johnson & Johnson said that its vice chairman, Joaquin Duato, will become chief executive officer of the company on 3rd January 2022, with Chairman and chief . Nonetheless, investor goodwill remains strong in the company. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? Maya Tsukernik you are amazing, congratulations on a great job!!! About Johnson & JohnsonAt Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. "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. Joaquin Duato at Johnson & Johnson headquarters in New Jersey. 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. "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. Mr. Duato JNJ stock SEC Form 4 insiders trading. by Caroline Vakil - 08/19/21 7:18 PM ET. When the COVID-19 pandemic began he oversaw the Companys rapid response to the crisis and drove coordination of global initiatives to safeguard the health of employees, ensure business and supply chain continuity, and accelerate the development of a COVID-19 vaccine. 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. Duato grew up in Valencia, Spain. All contents Copyright Johnson & Johnson Services, Inc.1997-2023. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. Duato, 59, is a three-decade veteran of J&J, as is Gorsky. The best ideas and solutions happen when people bring their uniqueness to work with them. 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. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996. Duato, 59, will take the role effective Jan. 3 when he will also take a seat on the company's board, J&J said in a statement late Thursday. Under his leadership, scientific expertise combined with AI and machine learning is accelerating how Johnson & Johnson confronts the most complex healthcare challenges and delivers for patients. 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. All Rights Reserved. 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. 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. Now its a museum parading J&Js 136-year heritage. As the world's most broadly based healthcare company, Johnson & Johnson has a 136-year legacy of innovating . JD: The healthcare industry has undergone massive change. Gorsky also led Johnson & Johnsons purchase of Actelion, the largest in J&J history, which significantly expanded Johnson & Johnsons portfolio of rare-disease treatments. LL: Tell me about something J&J is doing to address vaccination hesitancy among the LatinX community that youre particularly proud of? LL: What was the basis for J&J to pursue emergency use authorization? [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Very difficult. 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. 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. We want to hear from you. 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. 1. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter., Mr. Duato said, Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnsons success. Joaquin Duato, the new CEO of Johnson & Johnson, is comfortable enough in his new position at the 135-year-old company to issue a bold claim just a few months into the job and during his first interview: he predicts the next decade will see more health-care transformation than occurred during the past century. 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. FORTUNE may receive compensation for some links to products and services on this website. Joaquin has made over 15 trades of the Johnson & Johnson stock since 2017, according to the Form 4 filled with the SEC. Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. Educating physicians and investigators and working with diverse clinical trial personnel. 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. Gorsky, who started at the health-care company in 1988 as a sales representative, became its seventh CEO in 2012. The pharma unit Duato leads generated $33.5 billion in sales last year, growing 7.5% (compared with 4% growth for Johnson & Johnson overall). Joaquin Duato (born April 1962) is a Spanish-American business executive. During that time, the sector grew into what is today the fourth-largest innovative pharmaceutical company globally. Joaquin earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona. Joaquin has long believed in the power of technology to accelerate progress in healthcare. COVID-19 exposed the racial and social injustices that communities of color have been facing for a very long time. In January 2022, Joaquin Duato became Johnson & Johnson's new Chief Executive Officer. 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 member of high profile boards, including the Business Council and the Business Roundtable. 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