Joaquin Duato

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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
Term2022-present
Children2

Joaquin Duato (born April 1962) is a Spanish-American business executive. He is the chairman and chief executive officer (CEO) of Johnson & Johnson, an American multinational conglomerate. [2] He is the company's eighth CEO since it became a publicly-traded company in 1944. In 2023, Duato received $28.4 million, the highest paid CEO of any major US pharmaceutical company.

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. [3] Duato is a dual citizen of Spain and the US. [4]

Career

In 1989, Duato began his career with Johnson & Johnson, joining Janssen Pharmaceuticals in Spain. [5] After moving to the US 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. [3]

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. [3]

Duato was appointed CEO in August 2021 which became effective in January 2022. He was also appointed to the company’s board of directors. [7] [8] In November 2022, he was elected chairman, 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 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, a 117% increase over 2022. [11]

Board membership and honors

Duato is a board member of the U.S. Spain Council and previously was 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 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]

Personal life

Duato is married, with two adult children, and lives in Pennsylvania. [16]

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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. ↑ Nathan-Kazis, Josh. "J&J's CEO Plans to Step Down. Analysts Expect a Smooth Transition". www.barrons.com. Retrieved 2022-07-06.
  3. 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.
  4. ↑ Rosenbaum, Eric (2022-03-30). "Next decade will transform health care more than past century: Johnson & Johnson CEO". CNBC. 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.
  16. ↑ "Joaquin Duato | Council for Inclusive Capitalism" . Retrieved 2024-12-12.
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