J&J’s CEO To Take On Additional Role as Chairman
Johnson & Johnson (J&J) has announced that its Board of Directors has elected J&J’s CEO Joaquin Duato to assume the additional position of Chairman, effective in January 2023. Mr. Duato succeeds Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period. The move is part of a previously announced succession plan following J&J’s decision in November 2021 to split the company into two separate, stand-alone, publicly traded companies, one focused on pharmaceuticals and medical devices, and the other on consumer health.
Mr. Duato has served as J&J’s CEO and a member of the Board of Directors since January 3, 2022. Prior to that time, he held senior leadership positions over his 30-plus year career with the company across multiple business sectors, geographics and functions. As J&J’s CEO, he leads a global workforce of 135,000 employees in pharmaceuticals, med-tech, and consumer health. Previously, he served as the Vice Chairman of J&J’s Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain.
Mr. Gorsky was named CEO and Chairman of J&J in 2012 and has a had a three-decade-plus career with the company, beginning as a sales representative with Janssen Pharmaceutica in 1988. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012.
Last November (November 2021), J&J announced its plan to split the company into two separate, stand-alone, publicly traded companies, one focused on pharmaceuticals and medical devices (Johnson & Johnson) and the other on consumer health (Kenvue as the name for planned new consumer healthcare company). J&J is targeting completion of the planned separation in 18 to 24 months from its initial announcement made in November 2021.
Source: Johnson & Johnson