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J&J says veteran Duato to replace Gorsky as chief executive By Reuters 

© Reuters. FILE PHOTO: Johnson & Johnson Vice President and Worldwide Chairman Pharmaceuticals Joaquin Duato attends a news conference at Actelion headquarters in Allschwil, Switzerland January 26, 2017. REUTERS/Arnd Wiegmann

(Reuters) – Johnson & Johnson (NYSE:) said on Thursday its Vice Chairman of Executive Committee Joaquin Duato will become chief executive officer from Jan. 3, replacing Alex Gorsky who has been at the helm for nine years.

During Gorsky’s tenure, he oversaw significant breakthroughs in the company’s vaccine programs, including the development of the first single-shot COVID-19 vaccine. Gorsky will serve as the company’s executive chairman.

“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 said in a statement.

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