Latino Leaders: How does diversity of thought and opinions help the pharmaceutical industry? A longtime advocate of diversity and inclusion and supporter of veterans issues, Alex currently sits on the Board of Directors of Apple, IBM, JPMorgan Chase, NewYork-Presbyterian Hospital, and the Travis Manion Foundation, and serves on the Wharton School of the University of Pennsylvania Board of Advisors. Latino Leaders in Action Every ThursdayBringing you the latest news highlighting the top latinos leading our nation. Use of this site constitutes your consent to application of such laws and regulations and to our Privacy Policy. LL: How did J&J consider diversity in clinical trials for your COVID-19 Vaccine? Duato, who has also been at the company for more than three decades, is the vice-chair of J&J's executive committee. Please click below to continue to that site. We want to hear from you. J&J shares, including reinvested dividends, more than tripled under Gorskys tenure. 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. 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. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. 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. Overall, these circumstances have redoubled our efforts - and the efforts of our peers to tackle these healthcare challenges. 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. Our Credo is clear. 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. Before becoming CEO in 2022, Joaquin served as Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceuticals and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. Sign up for free newsletters and get more CNBC delivered to your inbox. Contact Us with any questions or search this site for more information. LL: What is Johnson & Johnson doing to combat COVID-19 beyond vaccine development? "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. In March, the two executives clinched a deal in which Merck would manufacture J&Js Covid-19 vaccine. 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. Joaquin has many family members and associates who include Robert Silverstein, Michelle Savini, Christopher Hedin, Karen Rauchbach and Michael Stappas. This site is governed solely by applicable U.S. laws and governmental regulations. From 2018, he added responsibilities for the company's consumer business,. From his early days in Spain, Joaquin found inspiration in how healthcare improved patients lives. 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. Cautions Concerning Forward-Looking StatementsThis press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Gorsky said Duato oversaw Johnson & Johnsons response to the COVID-19 pandemic and led the coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity.. 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. [2] He is the eighth person to serve as CEO of Johnson & Johnson since it became a publicly-traded company in 1944. You dont have to try too hard to make a human case for mentoring. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Our 130,000 employees mobilized with urgency to address the critical needs of families and healthcare providers in their country. Get the top DEI news delivered straight to your inbox, New Brunswick, New Jersey-based multinational pharmaceutical giant Johnson & Johnson (a DiversityInc. To reflect that, HCB Health has become Boundless Life Sciences Group. Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board. Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges. See here for a complete list of exchanges and delays. 2023 CNBC LLC. 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. His career in healthcare was influenced by his family. JD: Vaccine hesitancy refers to personal reluctance or refusal of vaccines even when they are readily available. Johnson & Johnsons new CEO Duato said he is honored to be the next CEO of the company. 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. 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. Your use of the information on this site is subject to the terms of our Legal Notice. Do Not Sell or Share My Personal InformationLimit the Use of My Sensitive Personal InformationCookie Settings. Continue reading your article with. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. With a 134-year history and 136,000 employees, J&J is known for tapping internal candidates. 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. "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. we must have a workforce that generally reflects that ethnic and . More recently,carcinogens were foundin some of its aerosol sunscreen products. He is on the Board of Directors at Johnson & Johnson, U.S.-Spain Council, Inc. and Save The Children Federation, Inc . 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. Were only able to tackle this problem at home if we address it worldwide. 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. Inclusion is an integral part of how we will achieve the goals set forth in our Race for Health Equity. [1] He is the chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. Please click below to continue to that site. Jan 26, 2023 11:12am. That is why I believe. We are confident that Joaquin is uniquely qualified and the right person to lead Johnson & Johnson into the future, Mulcahy said in a statement. . All quotes delayed a minimum of 15 minutes. If Johnson & Johnsons pharma group were a stand-alone company, it would likely rank as either the fifth- or sixth-largest pharma organization in the world. 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 . Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. 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. [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. 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. And while Duato isnt the type of leader who preaches from a soapbox, he believes that pharma needs to prioritize mentoring especially of top-flight women scientists far more than other industries do. According to a recent Kaiser Family Foundation study, 75% of Hispanic adults trust their healthcare provider to give them reliable information about the available vaccines. Very difficult. He was also appointed to the companys board of directors. Partnering with minority health and community advocacy groups, such as the National Black Church Initiative (NBCI), 3. Just as important was what Duatos mentors didnt do: push mentorship as a vehicle through which he might advance his career. Duato notes with some justifiable pride that the pharma groups leadership team includes six women, with two of its three commercial regions led by women. 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. Joaquin Duato 6d Data science and digital health have transformed how Johnson & Johnson innovates, enabling us to bring life-changing science to patients faster than ever. About Joaquin DuatoJoaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. About Joaquin Duato Mr. Duato's 30-plus year career at Johnson & Johnson has spanned multiple business sectors, geographies and functions. 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. [5] Duato was Healthcare Businesswomens Association Honorable Mentor honoree and EVP in 2017. Beginning early last year, we initiated a multipronged response to the COVID-19 pandemic, which includes developing a vaccine, and providing support to those most in need. by Caroline Vakil - 08/19/21 7:18 PM ET. 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. 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. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain. 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. Mr. Duato originally joined the Company in 1989. "Mr. Duato's international . 1, Duato told CNBC's Meg Tirrell at Healthy Returns on Wednesday, is the opportunity "to create more progress in health in this decade than we have seen in the last 100 years.". 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. LL: What do we know about vaccine hesitancy in the Latinx community? J&J declined to make Gorsky and Duato available for comment. We know that Joaquin is single at this point. 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. [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. El nuevo consejero delegado de la multinacional es hermano de la actriz Ana Duato y primo del bailarn y coregrafo Nacho Duato. Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. #jnj #mycompany #data #innovation 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. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy. The largest trade he's ever made was exercising 148,538 units of Johnson & Johnson stock on 17 January 2023 worth over $10,774,947. Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. 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

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