Kenvue CEO Departs as Board Launches Strategic Overhaul

Image Source : Business Wire

Kenvue Inc., the world’s largest pure-play consumer health company, has announced a major leadership transition with CEO Thibaut Mongon stepping down, effective immediately. The Board has appointed Kirk Perry, a seasoned consumer goods and tech strategist, as Interim CEO while initiating a comprehensive strategic review to unlock shareholder value.

Leadership transition:

- Kirk Perry, a current Kenvue board member, assumes the role of Interim CEO. He brings over 30 years of experience from Procter & Gamble, Google, and Circana.
- Thibaut Mongon exits both the CEO role and the Board, having led Kenvue through its spin-off from Johnson & Johnson and early public market phase.
- Executive search firm Heidrick & Struggles has been engaged to identify a permanent CEO.

Strategic review underway:

- The Board has formed a Strategic Review Committee to evaluate operational and portfolio optimization opportunities.
- Advisors Centerview Partners and McKinsey & Company are supporting the review, which may include brand divestitures and structural simplification.

Preliminary financial snapshot:

- Q2 net sales declined 4.0%, with organic sales down 4.2%.
- Adjusted diluted EPS is projected between $0.28 and $0.29, with full results due August 7.
- The company aims to revise its full-year outlook alongside the earnings release.

This leadership shake-up and strategic pivot signal Kenvue’s intent to recalibrate its growth trajectory amid margin pressures and evolving consumer dynamics. Investors will be watching closely for updates on portfolio changes and long-term vision.

Sources: Yahoo Finance, Investing.com, Business Wire.