Johnson & Johnson has announced that Alex Gorsky, currently chairman and chief executive officer, will serve as executive chairman of Johnson & Johnson and transition the chief executive officer role to Joaquin Duato, currently vice chairman of the company’s Executive Committee, effective January 3, 2022.
 
Following the transition of the chief executive officer role, Duato will also be appointed as a member of the company’s Board of Directors.
 
“It has been an honor and privilege to lead this company as chairman and CEO for nearly a decade, and I am pleased to serve as executive chairman to help oversee Johnson & Johnson’s ongoing progress improving the health of people and communities everywhere,” said Gorsky. “The decision to step aside was one of the most difficult of my career. This is the right time for the company as our organization is delivering strong performance across all three segments and is positioned for continued success, in addition to this being the right time for me personally as I focus more on my family due to family health reasons.”
 
Gorsky’s Legacy as Chairman and CEO
 
Gorsky has served as chairman and chief executive officer of Johnson & Johnson since 2012. During his tenure, he has overseen a more than 60% increase in R&D investments to $12 billion in 2020, making Johnson & Johnson one of the industry’s top investors in research and development, as well as hundreds of acquisitions and partnerships that contributed to the Company’s growth across its three segments and an increase in adjusted earnings per share of approximately 85% based on 2021 guidance.
 
As part of the company’s commitment to serving more than a billion patients each day, Gorsky has overseen Johnson & Johnson’s significant breakthroughs in vaccine programs, including the deployment of the Ebola and development of the HIV vaccine regimens, and most recently, the development of the first single-shot COVID-19 vaccine, which has contributed to the global fight against the pandemic.
 
Gorsky has also promoted a more diverse and inclusive culture, serving as the driving force behind many of Johnson & Johnson’s DE&I initiatives, including its $100 million pledge to fight health inequities for communities of color in the U.S. Under Gorsky’s leadership, the company has delivered exceptional financial performance, with its market capitalization growing from nearly $180 billion to more than $470 billion as the share price increased over 170%.
 
“I have the utmost confidence in Joaquin to lead Johnson & Johnson as the company’s next CEO,” continued Gorsky. “Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges.”
 
“I am honored to serve as Johnson & Johnson’s next CEO,” commented Duato. “I have had the pleasure of working closely with Alex for many years and thank him for his outstanding leadership. I am pleased that I will continue to benefit from his guidance and insights moving forward. Above all I am excited to be leading the best team in the industry, and I am confident that we will continue to be guided by Our Credo in everything we do.”