Joaquin Duato

Joaquin Duato (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.

Joaquin Duato
Born	1962 (age 62–63) Spain
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

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]