Joaquin Duato Named CEO of Johnson & Johnson
Alex Gorsky will transition from his role of chairman and CEO of Johnson & Johnson to executive chairman, handing the CEO reins to Joaquin Duato.
Duato, currently vice chairman of Johnson & Johnson’s executive committee, will assume the role Jan. 3, 2022. He’ll also become a member of the company’s board of directors.
Gorsky said in a statement that this was the right time to step aside as the business is delivering strong performance across its three business segments: consumer health, pharmaceuticals and medical devices. He’s served as chairman and CEO since 2012, a period in which the company has increased R&D by more than 60%, to $12 billion in 2020.
Johnson & Johnson’s consumer business recorded $13.9 billion in revenue in 2019, making it the No. 46 consumer goods company in 2020.
"The past decade alone has been transformational for Johnson & Johnson as we dramatically increased investment in R&D, drove some of the most important global advances in healthcare, made significant strategic shifts across the business and delivered record performance,” Gorsky noted.
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Gorsky joined Johnson & Johnson in 1988 as a sales rep with Janssen Pharmaceuticals and rose through the ranks. In 2004, he left to join Novartis Pharmaceuticals, and then returned to the company in 2008 to serve as group chairman and worldwide franchise chairman for Ethicon. Within the consumer health division, Gorsky has most recently helped shaped its strengths in self-care and skin health, while establishing a foundation in essential health.
Duato has spent more than three decades with Johnson & Johnson, with his most recent role providing strategic direction for the consumer health and pharmaceutical sectors. He oversees the global supply chain, technology, and health and wellness teams.
Gorsky cited Duato’s history of driving accelerated growth and profitability in these segments, specifically pointing to him spearheading a significant technology transformation across the enterprise over the past year.
"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,” said Duato. “As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnson's opportunity to play a key role in meaningfully improving the global trajectory of human health."
