Joaquin Duato

Last updated
Joaquin Duato
JnJ Duato cropped.jpg
Born1962 (age 61–62)
Spain
CitizenshipSpain
U.S.
Education ESADE Business School (MBA)
Thunderbird School of Global Management (Master of International Management)
OccupationBusinessman
Years active1989-Present [1]
TitleChairman and CEO of Johnson & Johnson
TermJanuary 2022-
Children2

Joaquin Duato (born April 1962) is a Spanish-American business executive. Duato is a dual citizen of Spain and the United States. [2] He is the chairman and chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. [3] He is the eighth person to be CEO of Johnson & Johnson since it became a publicly-traded company in 1944.

Contents

Early life and education

Duato grew up in Valencia, Spain. His career in health care was influenced by his family. His mother was a nurse, his grandfather was a pediatrician, and his grandmother a pharmacist. Duato speaks English, Spanish, and Italian. He received a Master of Business Administration from ESADE Business School in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona. [4]

Career

In 1989, Duato began his career with Johnson & Johnson, joining Janssen Pharmaceuticals in Spain. [5] After moving to the USA in 2002, Duato was appointed Executive Vice President, Worldwide Chairman, Pharmaceuticals in 2011. His growth strategy led to the turnaround of Johnson & Johnson’s struggling pharmaceutical business in the early 2000s. [4]

In 2018 when he was promoted to vice chairman of Johnson & Johnson’s executive committee, he led the pharmaceuticals and consumer product divisions and oversaw supply-chain and technology operations. [5] [6] He also was interim Chief Information Officer. [4]

Duato was appointed CEO in August 2021 which became effective on January 3, 2022. He was also appointed to the company’s board of directors. [7] [8] In November 2022, he was elected to chair the Board of Directors, effective January 2023. Duato oversaw the separation of Johnson & Johnson's consumer health segment, now an independent publicly traded company, Kenvue. [9]

During this time, Duato also was the executive sponsor of the company's African Ancestry Leadership Council. [10]

In 2023, Duato was the highest paid CEO of the major pharmaceutical companies, earning $28.4 million.That was a 117% increase over 2022. [11]

Board membership and honors

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. [6] Duato was past chair of Pharmaceutical Research and Manufacturers of America (PhRMA). [6] Duato was Healthcare Businesswomen’s Association Honorable Mentor honoree and EVP in 2017. [12] In 2021, Duato was ranked #3 on the NJBIZ Manufacturing Power 50 list. [13] The following year, Duato received the 2022 ESADE Award. [14] [15]

Related Research Articles

<span class="mw-page-title-main">Johnson & Johnson</span> American multinational pharmaceutical and consumer goods corporation

Johnson & Johnson (J&J) is an American multinational pharmaceutical, biotechnology, and medical technologies corporation headquartered in New Brunswick, New Jersey, and publicly traded on the New York Stock Exchange. Its common stock is a component of the Dow Jones Industrial Average, and the company is ranked No. 40 on the 2023 Fortune 500 list of the largest United States corporations. In 2023, the company was ranked 40th in the Forbes Global 2000. Johnson & Johnson has a global workforce of approximately 130,000 employees who are led by the company's current chairman and chief executive officer, Joaquin Duato.

<span class="mw-page-title-main">Pharmaceutical Research and Manufacturers of America</span> Trade group

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References

  1. ↑ "5 Things to Know About Johnson & Johnson's New CEO Joaquin Duato". 16 June 2023. Retrieved 2023-06-16.
  2. ↑ Rosenbaum, Eric (2022-03-30). "Next decade will transform health care more than past century: Johnson & Johnson CEO". CNBC. Retrieved 2022-06-15.
  3. ↑ Nathan-Kazis, Josh. "J&J's CEO Plans to Step Down. Analysts Expect a Smooth Transition". www.barrons.com. Retrieved 2022-07-06.
  4. 1 2 3 "The Architect of J&J's Breakup Bets on Tech for the Future of Drugs". Bloomberg.com. 2022-04-29. Retrieved 2022-06-15.
  5. 1 2 "A Look Inside J&J's Partnering & Innovation-Building Model". www.lifescienceleader.com. Retrieved 2022-06-15.
  6. 1 2 3 "J&J CEO Steps Down, Taps Successor Joaquin Duato". BioSpace. Retrieved 2022-06-15.
  7. ↑ Griffin, Riley (2021-08-19). "J&J's New Insider CEO Brings Expertise From Crucial Pharma Post". Bloomberg.com. Retrieved 2022-06-15.
  8. ↑ "Johnson & Johnson adds vice chairman to leadership". nj. Associated Press. 2010-12-15. Retrieved 2022-06-15.
  9. ↑ "J&J CEO Joaquin Duato discusses how he leads during challenging times and why the next decade will be the golden era for health innovation". Fortune. Retrieved 2023-11-17.
  10. ↑ Rivas, Kayla (2021-08-20). "J&J's new CEO Joaquin Duato: What to know". FOXBusiness. Retrieved 2023-11-17.
  11. ↑ "J&J's Duato nets major raise to $28.4M, jumps to top of pharma CEO pay rankings".
  12. ↑ "J&J's Joaquin Duato: Diversity is 'essential'". MM+M - Medical Marketing and Media. 2017-05-08. Retrieved 2022-06-15.
  13. ↑ "Presenting the 2021 Manufacturing Power 50". NJBIZ. 2021-12-13. Retrieved 2022-06-15.
  14. ↑ "Joaquín Duato, CEO of Johnson & Johnson, to Receive Esade Award - Esade". www.esade.edu. 2022-06-14. Retrieved 2023-11-17.
  15. ↑ "Future, Inspiration and Lots of Networking at the 26th Esade Alumni Annual Meeting in Barcelona | ESADE Alumni". www.esadealumni.net. Retrieved 2023-11-17.
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