J&J Makes Executive Leadership ChangesBy
Johnson & Johnson (J&J) has announced that Alex Gorsky, currently Chairman and Chief Executive Officer (CEO), will step down as CEO to serve as Executive Chairman of J&J and transition the role of CEO to Joaquin Duato, currently Vice Chairman of the company’s Executive Committee, effective January 3, 2022. Following the transition of the CEO role, Mr. Duato will also be appointed as a member of the company’s Board of Directors.
Mr. Gorsky has served as Chairman and CEO of J&J since 2012. During his tenure, Mr. Gorsky has overseen a more than 60% increase in R&D investments to $12 billion in 2020, as well as acquisitions and partnerships that contributed to the company’s growth. A primary focus of R&D investment under Mr. Gorsky’s leadership has been oncology, with the company’s sales in this area growing from approximately $2 billion in 2011 to over $12 billion in 2020. Acquisitions have included J&J’s $30-billion acquisition of Actelion, a Swiss bio/pharmaceutical company specializing in products for treating pulmonary arterial hypertension, which expanded J&J’s pharmaceutical segment portfolio of rare-disease treatments. Mr. Gorsky has overseen J&J’s breakthroughs in vaccine programs, including the deployment of the company’s Ebola and HIV vaccines and COVID-19 vaccine. Mr. Gorsky has also led the company in transforming its medical devices business with a focus on electrophysiology, surgery, orthopedics, vision care, and robotic and digital surgery, as well as in shaping the company’s consumer health portfolio.
Mr. Duato’s 30-plus year career at J&J has spanned multiple business sectors, geographies, and functions. As Vice Chairman of the Executive Committee, he provides strategic direction for the pharmaceutical and consumer health sectors and oversees the company’s global supply chain, technology and health & wellness teams. Mr. Duato is a past Chair of the Pharmaceutical Research and Manufacturers of America (PhRMA), an industry trade group of innovator, research-based pharmaceutical companies, and sits on the boards of UNICEF USA, Tsinghua University’s School of Pharmaceutical Sciences, and the Hess Corporation.
Source: Johnson & Johnson