Joaquín Duato
American corporate executive (b. 1962)
From Wikipedia, the free encyclopedia
Joaquín Duato Boix (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.[1] 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.
U.S.
Joaquín Duato | |
|---|---|
| |
| Born | 1962 (age 63–64) |
| Citizenship | Spain U.S. |
| Education | ESADE Business School (MBA) Thunderbird School of Global Management |
| Occupation | Businessman |
| Years active | 1989-present |
| Title | Chairman and CEO of Johnson & Johnson |
| Term | 2022-present |
| Children | 2 |
| Relatives | Ana Duato (sister) Miguel Bernardeau (nephew) Nacho Duato (cousin) |
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.[2] 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.[2][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
In recognition of his efforts, Duato was named a 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 for his leadership with Johnson & Johnson.[14][15] In 2023 Duato was bestowed with the Order of Civil Merit, Commander by Number, by King Felipe VI of Spain.[16][17] He is also a member of the Business Roundtable.[16]
Duato has been on the boards of the United States-Spain Council, UNICEF USA, Tsinghua University School of Pharmaceutical Sciences, and the Hess Corporation.[18][6] He was chair of Pharmaceutical Research and Manufacturers of America from 2017 to 2018.[19][20]
Personal life
Duato is married, with two adult children, and lives in Pennsylvania.[21]
He is the brother of actress Ana Duato, uncle of actor Miguel Bernardeau, and cousin of dancer Nacho Duato.[22]