- Push-out Score determined
- After almost 10 years in the position
- Accolades, praise and thanks for Gorsky
- Joaquin Duato taking over
- Gorsky will remain as Executive Chairman at Johnson & Johnson
- Gorsky made a lengthy statement and said 371 words
(exechange) — New Brunswick, New Jersey, August 19, 2021 — Alex Gorsky, chief executive of Johnson & Johnson, leaves his position. As announced by Johnson & Johnson in a news release on Thursday, August 19, 2021, Alex Gorsky leaves his post as chief executive officer at the healthcare conglomerate, after almost 10 years in the role, effective January 3, 2022.
Alex Gorsky’s duties as CEO will be taken over by Joaquin Duato, currently Vice Chairman of the Executive Committee at Johnson & Johnson.
“This is the right time”
Alex Gorsky’s departure from the CEO post is explained as follows. Gorsky said: “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 will remain as Executive Chairman at Johnson & Johnson
“Alex Gorsky, currently Chairman and Chief Executive Officer, will serve as Executive Chairman of Johnson & Johnson and transition the Chief Executive Officer role to Mr. Joaquin Duato, currently Vice Chairman of the Company’s Executive Committee, effective January 3, 2022. Following the transition of the Chief Executive Officer role, Mr. Duato will also be appointed as a member of the Company’s Board of Directors,” Johnson & Johnson said.
Share price increase since August 2018
The announcement follows an increase in Johnson & Johnson’s share price of 34% since August 2018.
In the position of CEO since 2012
Alex Gorsky became CEO of the Company in 2012.
Gorsky was appointed as Chairman, Board of Directors in December 2012.
He was named Chief Executive Officer, Chairman of the Executive Committee and joined the Board of Directors in April 2012.
Gorsky began his Johnson & Johnson career with Janssen Pharmaceutica Inc. in 1988.
Over the next 15 years, he advanced through positions of increasing responsibility in sales, marketing and management.
In 2001, Gorsky was appointed President of Janssen Pharmaceutical Inc., and in 2003 he was named Company Group Chairman of the Johnson & Johnson pharmaceutical business in Europe, the Middle East and Africa.
Gorsky left Johnson & Johnson in 2004 to join Novartis Pharmaceuticals Corporation, where he served as head of the pharmaceutical business in North America.
Gorsky returned to Johnson & Johnson in 2008 as Company Group Chairman for Ethicon. In early 2009, he was appointed Worldwide Chairman of the Surgical Care Group and member of the Executive Committee.
In September 2009, he was appointed Worldwide Chairman of the Medical Devices and Diagnostics Group.
Gorsky became Vice Chairman of the Executive Committee in January 2011.
Gorsky serves on the Boards of the Travis Manion Foundation, the National Academy Foundation and the Wharton Board of Advisors.
He is a Member of the Board of the Business Roundtable and serves as the Chairman of its Corporate Governance Committee.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Alex Gorsky’s move on a scale of 0 to 10.
exechange reached out to Johnson & Johnson and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 34.2021 ($).