Joaquin Duato | |
---|---|
Born | April 1962 |
Citizenship | Spain US |
Education |
ESADE Business School (
MBA) Thunderbird School of Global Management (Master of International Management) |
Occupation | Businessman |
Years active | 1989-Present [1] |
Title | Chairman and CEO of Johnson & Johnson |
Term | January 2022- |
Children | 2 |
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.
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]
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]
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]