Joaquin Duato
Also at Johnson & Johnson
About
Joaquin Duato is a globally minded leader known for his dual citizenship in Spain and the United States, which has enriched his international perspective and commitment to diverse viewpoints. His personal approach is deeply rooted in the company’s Credo values, emphasizing patient care, employee well-being, and community responsibility.
Throughout a distinguished career spanning over 35 years at the organization, he has consistently taken on roles of escalating responsibility. His career highlights include key positions in the Pharmaceuticals sector, where he provided strategic guidance and operational leadership during his tenure as Worldwide Chairman, Executive Vice President, and Vice Chairman.
Under his visionary leadership, the strategic direction of the company has been refined with an unwavering focus on innovative medicine and MedTech solutions. His efforts have been pivotal in expanding the pipeline of therapies in critical areas such as oncology, immunology, neuroscience, and pulmonary hypertension, reinforcing his reputation as a purpose-driven executive.
$JNJ Performance Under Joaquin Duato
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Hess Corporation | Director | 2019 - 2022 | Former external board role |
| Johnson & Johnson | Vice Chairman of the Executive Committee | July 2018 - 2022? | Provided strategic direction for Pharmaceutical and Consumer Health sectors, supply chain, IT, global services, and Health & Wellness groups |
| Johnson & Johnson | Executive Vice President, Worldwide Chairman, Pharmaceuticals | 2016 | |
| Johnson & Johnson | Member of the Executive Committee | 2016 | |
| Johnson & Johnson | Worldwide Chairman, Pharmaceuticals | 2011 | |
| Johnson & Johnson | Company Group Chairman, Pharmaceuticals | 2009 |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,584,615 | Annual | Fixed base pay. |
| Registrant Contributions to Defined Contribution Plans | $71,308 | Annual | Contribution to defined contribution plans. |
| Insurance Premiums | $0 | Annual | No insurance premium expense. |
| Perquisites and Other Personal Benefits | $170,684 | Annual | Includes $145,685 for personal use of corporate aircraft and personal use of a company car and driver. |
Performance Compensation
Annual Incentive Payout
| Metric (Unit, scale) | Value with Citation |
|---|---|
| Threshold (USD) | $0 |
| Target (USD) | $2,800,000 |
| Maximum (USD) | $5,600,000 |
| Actual Payout (USD) | $3,650,000 |
| Financial Goals Weight (%) | 70% |
| Strategic Goals Weight (%) | 30% |
| Enterprise Financial Payout Factor (%) | 130.5% |
| Enterprise Strategic Payout Factor (%) | 130.0% |
| Overall Payout Factor (%) | 130.4% |
| Performance Period | Calendar Year 2023 |
| Payout Timing | Q1 2024 |
Long-Term Incentives (LTIs)
| Component (Unit, scale) | Details |
|---|---|
| PSUs | Grant Date: Feb 13, 2023; Vesting Schedule: 3-year period with 0% to 200% outcome; Performance Metrics: EPS (50% weight) and Relative TSR (50% weight); Grant Date Fair Value: Target $9,335,592 and Maximum $18,671,185. |
| RSUs | Grant Date: Feb 13, 2023; Vesting Schedule: One-third vests per anniversary over 3 years; Grant Date Fair Value: $1,599,051. |
| Options | Grant Date: Feb 13, 2023; Vesting Schedule: One-third per year with a 10-year term; Exercise/Base Price: $162.75 per share; Grant Date Fair Value: $4,796,990. |
Annual Performance Bonus
| Metric (Unit, scale) | Details |
|---|---|
| Performance Metrics | Based on combined financial (70% weight) and strategic (30% weight) goals. |
| Overall Payout Factor | 130.4% of target, with a payout range from 0% to 200% of the target award. |
| Evaluation & Vesting | Aligned with the performance review of the Annual Incentive Payout; evaluated for the calendar year 2023 with cash-based award mechanics. |
This comprehensive performance compensation structure for 2023 includes multiple components with clearly defined metrics, targets, vesting schedules, and actual outcomes as detailed above.