About Alex Gorsky
Alex Gorsky, former Executive Chairman and CEO of Johnson & Johnson, participated in a keynote discussion at the LSI USA '24 Emerging Medtech Summit in May 2024. During the conversation, he argued that the traditional model of pricing medical devices with a small performance difference at a significantly higher cost "is not going to work." He stated that healthcare spending will increase over the next decade due to demographic shifts, and he described this as "not a bad thing" for a developed society. Gorsky also warned that if the industry does not focus on ensuring broad access to technology, "countervailing political forces" could change the healthcare ecosystem. He noted that large-scale M&A is "quite challenged" and expressed concern about that trend. Gorsky predicted that enabling technologies like cloud, connectivity, and AI will become the focus of medtech within ten years, and he advised entrepreneurs and investors to "think differently" about enabling the next generation of healthcare.
Earlier, during the COVID-19 pandemic in 2020, Gorsky discussed Johnson & Johnson's development of a vaccine on a not-for-profit basis, stating that the company aimed to provide broad access. He emphasized the importance of relying on "data, science, and well-established regulatory guidelines" during a politicized time. In a 2018 interview, Gorsky described leading Johnson & Johnson with a "start-up mode" mindset, stressing the need for constant reinvention. He also discussed the importance of the company's Credo, a set of principles he said serves as a "moral compass," and noted that all employees had participated in "Credo challenge" sessions to discuss its relevance. In a 2013 interview, Gorsky identified significant organizational and people changes as among the most challenging decisions he faced, and he said he evaluates leaders based on their performance, their track record in developing future leaders, and how they develop talent with the Credo in mind.
Source: AI-verified profile updated from Alex Gorsky's recent appearances.
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✨ AI-enhanced transcript with speaker attribution
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Interviewer0:00
Well, we've just been joined on the red carpet by Alex Gorsky, who was our 2009 Honorable Mentor and a very, very tough act to follow because he has such a long history of supporting emerging leaders in our industry. Alex is the Vice Chair of Johnson & Johnson, who has been an incredibly generous and longtime supporter of the Healthcare Businesswomen's Association. So thank you so much.
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Alex Gorsky0:25
Well, as always, it's a real pleasure to be here. I mean, this is an event I always look forward to every year—a chance to get together, reconnect with friends, and just see all the great things that HBA is doing for women around our industry. It's really a pleasure to be here. Thank you.
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Interviewer0:39
Okay, first question is a little bit of a trick question, depending on how you look at it. Tell me a little bit about, in your mind, what you see the leader of the future looking like, acting like, being like.
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Alex Gorsky0:53
Well, you know, it's always difficult to predict the future, but I think that there likely are going to be some different kind of challenges that our leaders are going to have to prepare for in the 21st century. And I think the first is just the sheer complexity and ambiguity. You know, the good news is we have so much data, so much information. The hard part is how do we really make that actionable, and getting leaders who are used to being uncomfortable in that kind of environment is really important. The second thing for me is really finding leaders who do a great job with diverse teams, who can bring people together from different points of view—whether it's different global backgrounds, different cultures, different styles—and really make one plus one equal four. And the last but certainly not least, you know, we're blessed in the healthcare industry to really be able to make a difference in patients' lives, but also we have an incredible responsibility with that. So I think making sure our leaders have got the right kind of value system to make the difficult decisions that we need to make each and every day is more important than ever.
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Interviewer1:54
Now, in terms of the role of women as leaders in the future—obviously women shouldn't be leaders simply because they're women—but maybe talk for a moment, and I know I'm sort of sliding this question in, that's okay, for a moment how you see women coming to the table as leaders. I know Johnson & Johnson, you actually have quite a number of rising leaders who are women.
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Alex Gorsky2:15
Well, I think women bring a number of unique aspects to the management table, to the boardroom, so to speak. And yeah, we're fortunate at Johnson & Johnson. We've worked really hard at trying to do an even better job of increasing and improving representation really at all levels. But I think a few things: one, women are very important customers, and I think your executives have got to reflect your customer base when you think of the influence they have on making purchasing decisions within any family, and with our products, especially with our consumer brands, but also pharma as well as devices. That's a really important aspect. But second, I also think they bring a unique point of view to the table based upon their experiences, and I can see the impact that they're having on our teams every day.
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Interviewer2:57
That was exactly where I was hoping you would go. I mean, I think women as caregivers, women coming from being a doctor or taking care of aging parents, are definitely bringing something a little bit different, a little bit unique to their leadership.
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Alex Gorsky3:08
Absolutely. You know, we think of ourselves as the mother and baby company, and you know, how can you be the mother and baby company without having women among your executives? And so it's really important for us at Johnson & Johnson.
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Interviewer3:32
Alex, one more question for you. I know it could be a long list of things because we work so closely together, but can you give us a sense of what you found of great value in the ways that the HBA has worked together with J&J to help develop some of your future leaders?
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Alex Gorsky3:46
There's so many ways that I think we've been able to work together between HBA and J&J. Last count, I think we have more than 600 women around the world who've worked with HBA in one way or another over the past year. That includes training programs, development programs, networking programs, and I really think it's a great extension of what we try to do internally. But having this other venue, this other network that we can stay connected with to really expand their opportunities is so important. So we really appreciate and value the relationship we have, and I know it's even better going forward.
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Interviewer4:22
Well, as do we. It's one of the most valuable corporate partnership relationships that we have, and I want to thank you for joining us today on the red carpet.
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Alex Gorsky4:30
You know, Johnson & Johnson, we think of ourselves as the mother and baby company, and it's just so important for us to have women in senior-level positions who can help ensure that their voice is also being heard in all the decisions that we make.
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Interviewer4:43
What I say to that is right on. Thank you.
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Alex Gorsky4:46
Thank you.
