Joaquin Duato set to replace Alex Gorsky as Johnson & Johnson's CEO

Johnson & Johnson will replace Chairman and CEO Alex Gorsky with another veteran company executive starting next year. The world's biggest maker of health care products said late Thursday that Joaquin Duato will become CEO and a member of the company's board of directors on January 3.

Duato, 59, currently serves as vice chairman of J&J's executive committee, which involves working with the company's pharmaceutical and health sectors and overseeing its global supply chain. Duato, a dual citizen of Spain and the United States, has been with Johnson & Johnson for more than 30 years, the company said. Gorsky, 61, has