Kenvue CEO Steps Down
Tylenol maker Kenvue’s (NYSE:KVUE) CEO and board member Thibaut Mongon has stepped down, it said on Monday and named company director Kirk Perry as interim chief executive.
The company, which was spun off from Johnson & Johnson (NYSE:JNJ) in 2023, has been under pressure from activist investors to boost performance, particularly in its skin-health and beauty unit, which includes brands such as Neutrogena and Aveeno.
“The Board’s strategic review is underway, and we are considering a broad range of potential alternatives, including ways to simplify the company’s portfolio and how it operates,” said board chair Larry Merlo.
Perry has previously spent 23 years with Procter & Gamble. (NYSE:PG) He most recently served as president and CEO of Circana, a global provider of technology, data and predictive analytics for the consumer, retail and media sectors.
Leading executive search firm, Heidrick & Struggles, is assisting in the search for the Company’s next Chief Executive Officer.
The Board had previously initiated a comprehensive review of strategic alternatives and has established a Strategic Review Committee to oversee the ongoing process. The strategic review will consider a broad range of potential alternatives, including optimizing the Company’s brand portfolio, while improving execution and enhancing operating performance to accelerate profitable growth and unlock the inherent value in Kenvue.
The Company will report its full second quarter 2025 financial results on August 7, and, at that time, will also revise its full year 2025 outlook.
KVUE shares dipped 12 cents to start the week at $21.24.
