Alex Gorsky, Chairman and CEO of Johnson & Johnson, will step down in 2022 and will be replaced by a current CEO of the company.
The New Jersey-based drugmaker will replace Gorsky with Joaquin Duato, who is currently the vice chair of J&J’s executive committee, on January 3.
Duato currently works with the company’s pharmaceutical and health sectors and oversees the global supply chain. He has been with the company for more than 30 years, AP News reported.
Gorsky served as Chairman and CEO for 10 years. After Duatu takes office, Gorsky will become CEO of the Board of Directors.
“The decision to step down was one of the most difficult of my career,” he said. statment. “This is the right time for the company as our organization is delivering strong performance across all three sectors and is in a position to continue to be successful, plus it is the right time for me personally as I focus more on my family for reasons of family health.”
The company made more than $6 billion in the second quarter and posted a 73% jump in profits. The COVID-19 vaccine only made $164 million in sales.
Earlier this year, the company’s vaccine was the subject of concerns about its very rare side effects in some women Cause blood clots. One of the six women who reported blood clots was a 26-year-old from Pennsylvania
The Philadelphia Department of Health temporarily stopped distributing the vaccine when the news was first announced, though
Gorsky oversaw the $30 billion acquisition of Swidd biopharmaceutical company Actelion that completed in 2018.