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J & J CEO Gorsky resigns and company veteran leads in 2022 | News

Johnson & Johnson plans to replace Chairman and CEO Alex Gorsky with another veteran corporate executive starting next year.

The world’s largest manufacturer of healthcare products announced late Thursday that Joaquin Duato will become CEO and a member of the company’s board of directors on January 3.

Duato is currently Vice Chairman of the J & J Executive Committee. This committee works with the company’s pharmaceutical and health sector to oversee the global supply chain.

Duato, a dual citizen of Spain and the United States, has been with Johnson & Johnson for over 30 years, the company said.

Gorsky has been Chairman and CEO since 2012 and will become Chairman of the Board.

J & J reported last month that profits in the second quarter increased by 73%. This was due to significant sales growth as hospitals and other healthcare industries recovered from the COVID-19 pandemic slowdown in the previous year.

The New Brunswick, NJ company earned more than $ 6 billion in the second quarter, but received little help from its one-shot COVID-19 vaccine, with sales of only $ 164 million. The vaccine, one of the three approved for use in the United States, has suffered from some very rare side effects and concerns about the temporary closure of consignment manufacturers’ factories due to pollution problems. rice field.

Joining Johnson & Johnson in 1988, Gorsky oversaw the company’s largest acquisition in 2018, a $ 30 billion deal with Swiss biopharmacy company Actelion.

The company also said that it focused on oncology and that R & D investment surged by more than 60% during Gorsky’s tenure to reach $ 12 billion last year.

J & J’s share price has risen more than 12% so far this year.

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J & J CEO Gorsky resigns and company veteran leads in 2022 | News

Source link J & J CEO Gorsky resigns and company veteran leads in 2022 | News

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