J&J CEO transition effective Jan 3: Duato CEO, Gorsky Exec Chairman; comp details disclosed

JOHNSON & JOHNSON

Joaquin Duato assumes CEO and Board member roles as of Jan 3, 2022; Alex Gorsky becomes Executive Chairman.
Duato's base salary set at $1.5M, annual incentive target 175% ($2.625M), LTI target 820% ($12.3M) of base.
Gorsky's base salary reduced to $1.4M, annual incentive target 150% ($2.1M); no future LTI awards for exec chairman role.
Changes approved by Board on Jan 4, 2022; Duato gets no additional compensation for Board service.
CEO succession was previously announced on Aug 19, 2021; this filing formalizes compensation adjustments.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Alex Gorsky

Executive Chairman

JNJ · JOHNSON & JOHNSON

Effective: 2022-01-03
Filed: January 6, 2022, 6:59 PM ET

Alex Gorsky, previously Chairman and CEO of the Company, transitioned to Executive Chairman of the Company

Appointed

Joaquin Duato

Member of the Board of Directors

JNJ · JOHNSON & JOHNSON

Effective: 2022-01-03
Filed: January 6, 2022, 6:59 PM ET

has been appointed as a member of the Company’s Board of Directors

Role change

Joaquin Duato

Chief Executive Officer

JNJ · JOHNSON & JOHNSON

Effective: 2022-01-03
Filed: January 6, 2022, 6:59 PM ET

Joaquin Duato, previously Vice Chairman of the Company’s Executive Committee, assumed the role of Chief Executive Officer (“CEO”) of the Company and has been appointed as a member of the Company’s Board of Directors

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Alex Gorsky changed role as Executive Chairman at JOHNSON & JOHNSON.

Action: transitioned to
Role: Executive Chairman

Exact text from the filing

Alex Gorsky, previously Chairman and CEO of the Company, transitioned to Executive Chairman of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joaquin Duato was appointed as Member of the Board of Directors at JOHNSON & JOHNSON.

Action: appointed
Role: Member of the Board of Directors

Exact text from the filing

has been appointed as a member of the Company’s Board of Directors

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joaquin Duato changed role as Chief Executive Officer at JOHNSON & JOHNSON.

Action: assumed role
Role: Chief Executive Officer

Exact text from the filing

Joaquin Duato, previously Vice Chairman of the Company’s Executive Committee, assumed the role of Chief Executive Officer (“CEO”) of the Company and has been appointed as a member of the Company’s Board of Directors

View on SEC.gov

JOHNSON & JOHNSON filing history →

Source: SEC EDGAR

accession 0000200406-22-000004

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