Johnson & Johnson’s CEO, Alex Gorsky said he would be stepping down from the role Ina. 3, 2022, citing family reasons. Gorsky will serve as executive chairman Johnson & Johnson and transition the CEO role to Joaquin Duato, currently vice chairman of the company’s executive committee.
Following the transition of the CEO role, Duato will also be appointed as a member of the Company’s board.
Gorsky has served as Chairman and CEO of Johnson & Johnson since 2012. In that time, he 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 about 85% based on 2021 guidance.
Gorsky also helped the usher the company into surgical robotics market. J&J bought out interest in Verb, its surgical robotics joint venture with Verily, in 2019. The company unveiled the Ottava surgical platform in November of last year. J&J also made a hefty acquisition the space, acquiring Auris Health for $3.4 billion. Auris developed the Monarch Platform, an FDA-cleared system currently used in bronchoscopic diagnostic and therapeutic procedures.
“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,” Gorsky said in a release. “Over the course of my 30-year career at Johnson & Johnson, guided by Our Credo, I have witnessed the profound impact of the Company’s evolution and expansion of life-enhancing medicines. The past decade alone has been transformational for Johnson & Johnson as we dramatically increased investment in R&D, drove some of the most important global advances in healthcare, made significant strategic shifts across the business and delivered record performance.”
He added, “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.”