THE WHAT? Alex Gorsky is stepping aside from this role as CEO of Johnson & Johnson, with the personal care giant appointing Joaquin Duato, currently Vice Chairman of the Executive Committee, as his replacement, effective 3rd January.
THE DETAILS Gorksy has held the role since 2012, will take on the role of Executive Chairman, with Duato being appointed to the board following his move into the CEO role.
During his time at the company, Gorsky has overseen a more than 60 percent increase in R&D investments to $12 billion in 2020, making Johnson & Johnson one of the industry’s top investors in research and development.
He is also said to have been pivotal in transforming the company’s medical device business as well as guiding its consumer arm into self care and skin health.
THE WHY? Gorksy stated it was the ‘right time’ to leave for both the business and himself, as he looks to focus more on family due to ‘health reasons.’
Speaking of his successor, who he has worked with for 25 years, Gorsky praised Duato’s ability to solve ‘complex medical and business challenges.’
He continued, “In addition to driving accelerated growth and profitability in our Pharmaceutical and Consumer Health businesses, in his most recent role of Vice Chairman of the Executive Committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the Company’s business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year.
“Notably, he also oversaw the Company’s rapid response to the COVID-19 pandemic and led coordination of global initiatives to safeguard the health of employees and ensure business and supply chain continuity. I look forward to working closely with Joaquin in my role as Executive Chairman to help write Johnson & Johnson’s next chapter.”