Company News

August 20, 2021

J&J’s Shakeup

Looks like corporate turnover isn’t just happening in mid-level management. It’s happening at the very top of the corporate ladder, too. 😂

Last night, Johnson & Johnson announced that CEO Alex Gorsky will step down on Jan. 3. He’ll be replaced by Joaquin Duato, the current head of Johnson & Johnson’s pharmaceutical and consumer health segments.

Duato is not new to J&J. In fact, he’s been with the company for over three decades. Over the last few years, Duato has developed the company’s pharma segment— in J&J’s latest annual report, pharmaceutical revenue represented 54% of the company’s total revenue. 💰

Nonetheless, Duato has his work cut out for him: the COVID-19 pandemic is far from over, and J&J didn’t exactly have a smooth rollout of its one-shot vaccine. The company experienced numerous hiccups in production, quality assurance, and side-effects. On top of its COVID vaccine, J&J faces several lawsuits ranging from baby powder asbestos to opioid charges.

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