Johnson & Johnson shakeup leaves Joaquin Duato with largest portfolio

The executive pyramid at Johnson & Johnson is going through a significant revamp with head of pharmaceuticals Joaquin Duato taking on most of the responsibilities held by Group Worldwide Chairman Sandra Peterson as she prepares to retire. Duarto will become a vice chairman of the executive committee on July 2. The pharma unit that Duato currently oversees is already the largest, but he will add J&J’s consumer business along with responsibility for supply chain, IT, global services, and the health and wellness businesses. The moves come after Duarto and Peterson last year nabbed $9 million each in retention bonuses. Along with Duarto, the company promoted Paul Stoffels, M.D., to a vice chairman of the executive committee. Stoffels will oversee pharma R&D, be chief medical officer and be responsible for several other areas. There were several other shifts as well. "These appointments recognize the enormous talent among the senior leadership team of Johnson & Johnson, and will ensure our continued focus on delivering on our commitments to patients, consumers, employees, our communities and our shareholders," CEO and Chairman Alex Gorsky Gorsky said in a statement.