Governor Murphy Names Joaquin Duato New Chair of New Jersey CEO Council, Continuing Commitment to the State’s Economic Growth

NEWARK, NJ – Governor Phil Murphy announced at the most recent New Jersey CEO Council Meeting that Joaquin Duato, Chairman and Chief Executive Officer of Johnson & Johnson, will succeed Hans Vestberg, the former Chairman and Chief Executive Officer of Verizon, as Chair of the Council. Governor Murphy expressed his gratitude to the members of the Council for their leadership, collaboration, and commitment to strengthening the state’s economy over the past five years.

The New Jersey CEO Council is a coalition of business leaders dedicated to driving economic growth and innovation across the state. Created in 2020 as part of Governor Murphy’s Restart & Recovery Commission to support communities disproportionately affected by the pandemic, the Council now serves as an advisory committee under the stewardship of Choose New Jersey. Leveraging their collective expertise and reach, the Council plays a pivotal role in shaping a prosperous and resilient New Jersey economy. 

Comprised of the leaders of some of the state’s most prominent companies and largest employers, the Council meets regularly with the Governor to discuss key issues, share insights, and advance strategies that promote inclusive economic growth. Together, the 13 member companies employ more than 100,000 residents of New Jersey.

“The CEO Council has exemplified the power of partnership between the public and private sectors,” said Governor Phil Murphy. “Under Hans Vestberg’s leadership, and that of Charles Lowrey and Ken Frazier before him, the Council has helped drive progress on shared priorities that make New Jersey a better place to live, work, and do business. I am deeply grateful to Hans for his dedication and am delighted that Joaquin Duato has agreed to serve as the Council’s next chair. His leadership and commitment to New Jersey’s future will be invaluable as the Council continues its important work in collaboration with Governor-Elect Mikie Sherrill and her administration.”

Since its inception, the CEO Council has made tangible contributions to advancing workforce development, innovation, and economic opportunity in New Jersey, including its commitment to seed-fund the New Jersey Pay It Forward Program, which has disbursed more than $7 million in student loans and financial assistance to individuals enrolled in 11 training programs across the state. The Pay It Forward model has since received national recognition as one of the most innovative and equitable approaches to financing education and training. In addition, the CEO Council provided vital start-up capital for the Rutgers Procurement Center of Excellence in their Center for Supply Chain Management, which strengthens supply chain access for New Jersey-based businesses, especially businesses that are women-, veteran- or minority-owned.

“Large businesses have an obligation to help society move forward while solving big problems. Working together with the Governor and my fellow CEO Council Members, we have expanded opportunity and prosperity within New Jersey and beyond,” said Hans Vestberg, former Chairman and CEO of Verizon. “We have shown how businesses and government must work together to strengthen communities and build a more inclusive economy.”

“Johnson & Johnson has been a proud New Jersey company since we were founded in New Brunswick in 1886 and I’m excited to follow Hans in leading this extraordinary group of executives as the Council continues its important work,” said Joaquin Duato, Chairman and CEO of Johnson & Johnson. “New Jersey’s business community is united in its commitment to advancing innovation, opportunity, and growth across the state. I look forward to collaborating with Governor-Elect Sherrill and her administration.”

At the final CEO Council meeting under Governor Murphy’s leadership, the Council also welcomed Governor-Elect Mikie Sherrill, who joined discussions on the transition and future opportunities to continue advancing New Jersey’s competitiveness and economic vitality.

“The CEO Council has been instrumental in deepening the partnership between business and government to expand opportunity and drive growth,” said Wes Mathews, President & CEO of Choose New Jersey. “We are proud to have supported Governor Murphy, Chair Hans Vestberg, past chairs Charles Lowrey and Ken Frazier, and the CEO Council over the past five years, and I’m confident that under Joaquin Duato’s leadership, this collaboration will continue to strengthen New Jersey’s economy.”

“The CEO Council proves the value of aligning New Jersey’s business community around a shared vision for growth,” said Tim Crouch, Chief Strategy Officer of Choose New Jersey. “We’re deeply grateful to Governor Murphy and Hans Vestberg for their partnership and look forward to working with Joaquin Duato and the incoming administration to continue the Council’s central role in  New Jersey’s economic growth.”

The next meeting of the CEO Council is scheduled for early 2026 under Governor Sherrill’s administration.

About Choose New Jersey

Choose New Jersey is the state’s leading nonprofit business attraction organization. We harness the collective power of New Jersey’s business, government, labor, and academic sectors to expand New Jersey’s economy. We work globally, using our marketing expertise, concierge business development services, deep knowledge of the state, and convening power, in collaboration with state government, to empower businesses, entrepreneurs, leaders, and innovators to make New Jersey their home. Learn more at choosenj.com.