Joaquin Duato

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Joaquin Duato
JnJ Duato cropped.jpg
BornApril 1962
CitizenshipSpain
US
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 healthcare 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

Duato began his career in Johnson & Johnson in 1989 when he joined 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]

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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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