Johnson & Johnson CEO Joaquin Duato elected as new Chairman of Board

New Brunswick: Johnson & Johnson has announced that its Board of Directors has elected Chief Executive Officer, Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. Duato succeeds Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period.

Duato has served as Johnson & Johnson's CEO and a member of the Board of Directors since January 3, 2022. Prior to that time, he held senior leadership positions over his 30- plus year career with the Company across multiple business sectors, geographics and functions.

"On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Over the last three decades, Alex's influence has truly shaped the global healthcare landscape and improved billions of lives," said Anne Mulcahy, Lead Independent Director. "Joaquin's appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Board's thoughtful and engaged approach to succession planning. During Joaquin's career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter."

Duato said, "Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnson's success. I also want to thank Alex for his countless contributions to our Company. He has inspired an entire generation of leaders with his passion for improving human health, built the best team in the industry, and laid a strong foundation for the future of both Johnson & Johnson and Kenvue, the planned new Consumer Health company." "The opportunity to lead Johnson & Johnson through such a pivotal time in the Company's history has been the great privilege of my life," said Alex Gorsky. "I would like to express my deep appreciation to every employee, past and present, for their steadfast commitment to bringing our Credo to life every day and to improving the well-being of those who rely on us. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements."

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