Latest news with #KirkPerry
Yahoo
18 hours ago
- Business
- Yahoo
Interim CEO Shift And Strategy Review Drive Kenvue's Turnaround Efforts
Kenvue Inc. (NYSE:KVUE) is one of the . The company names an interim CEO and launches a strategic review as sales decline, sparking investor pressure. A pharmacist at a local store, stocking shelves with products from the consumer health company. Based in New Jersey, Kenvue Inc. (NYSE:KVUE) is a global consumer health leader. Operating in over 165 countries, the company serves more than 1.2 billion people. Its portfolio includes iconic brands such as Tylenol, Neutrogena, Listerine, and Aveeno that have gained the trust of consumers and healthcare professionals spanning retail, pharmacy, and digital health channels in key markets like North America, Europe, and Asia. Kenvue Inc. (NYSE:KVUE) is undergoing a major leadership transition and undertaking strategic changes to address underperformance and unlock shareholder value. The company appointed Kirk Perry as interim CEO in July 2025. Along with this decision, it is reviewing brand divestitures and execution strategies after a 4.2% organic sales decline in preliminary Q2 2025 results. The review is targeted towards portfolio optimization and operational efficiency, amid activist investor pressure and an equity valuation gap versus peers. Potential brand sales, including those of Clean & Clear and could streamline operations. With full Q2 earnings expected on August 7, the change in CEO and strategic decisions could potentially shape market expectations. Investor confidence in the stock remains high, with 52 hedge fund holders, as recorded by Insider Monkey, holding ownership in the company. While we acknowledge the potential of KVUE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best Long Term Low Risk Stocks to Invest in and 13 Best Low Risk High Growth Stocks to Buy Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Kirk Perry Appointed Interim CEO of Kenvue Amid Strategic Review
Thibaut Mongon has departed as chief executive officer of Kenvue and stepped down from the board. Kirk Perry has been named interim CEO, effective immediately, as the board conducts a search for Mongon's permanent successor, the company said Monday. More from WWD EcoBeautyScore Launches in Europe as Consumers Demand More Transparency Who's Winning the 2025 Fragrance Game so Far? EXCLUSIVE: Brad Pitt's Skin Care Brand Beau Domaine Introduces New Planet-friendly Packaging Perry is a current Kenvue director and seasoned consumer products and brand strategist with more than 30 years of experience. Of his appointment, Larry Merlo, Kenvue's chair of the board, said: 'We are very pleased to have a leader of Kirk's caliber and experience step into the role of interim CEO to lead Kenvue during this important time. His deep knowledge of the intersection of technology, data and global consumers has already been an asset during his time on the board and we look forward to Kenvue continuing to benefit from his expertise and leadership in this additional role. On behalf of the board, I want to thank Thibaut for his oversight in establishing Kenvue as a stand-alone company and for his commitment to the organization throughout his tenure.' Perry added: 'I am excited to leverage my decades of experience leading businesses across the consumer and technology industries and work with the board and leadership team to put the business on the strongest footing to deliver on Kenvue's full potential and realize our goal of top-tier financial performance.' The CEO switch comes as the board is carrying out a strategic review 'to unlock shareholder value and reach its full potential,' including assessing its current portfolio. Kenvue was spun out of Johnson & Johnson in 2023. Its brands include Neutrogena, Aveeno, OGX and Tylenol. 'Kenvue has world-class brands in attractive categories and a strong global platform. The actions announced today are to ensure we have the right talent, brand portfolio and operational foundation to fully capitalize on those strengths, accelerate profitable growth and best position the company for future success,' said Merlo. '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.' Its share price closed up 2.18 percent at $21.82 on Monday. Best of WWD Sesame Oil Skin Care: The Secret to Hydrated Skin or a Recipe for Clogged Pores? How Grooming Is Introducing Men to Self-care and Redefining Masculinity Clean Beauty Brand Ignae Makes Big U.S. Push With a New Look Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
16-07-2025
- Business
- CNA
Tylenol maker Kenvue ousts CEO amid board's strategic review
Band-Aid and Tylenol maker Kenvue has fired its CEO Thibaut Mongon, the consumer health company said on Monday (Jul 14), laying what some investors expect will be the groundwork for an eventual sale of the entire company or pieces of it. Kenvue also said that an ongoing review of strategic alternatives is advancing. The company has been seen as an acquisition target this year as it faced mounting investor pressure to boost performance or consider a sale. Kenvue named director Kirk Perry as interim CEO, while Mongon also stepped down from the board. Perry, who worked at Procter & Gamble for 23 years, most recently served as CEO of technology and data analytics firm Circana. "The appointment of Perry increases the chance of a sale of a part or all of the portfolio," said Canaccord Genuity analyst Susan Anderson. The company's share price slowly climbed around 2.25 per cent on Monday after it struggled in early trading as some investors said they used the news as a reason to liquidate positions. Others were encouraged by the strategic review news, something many of them had long pushed for. Activist investors Third Point and Toms Capital were big buyers of the stock earlier in the year, according to regulatory filings, with Toms specifically pushing for a sale. Kenvue settled a proxy fight with activist investor Starboard Value in March, appointing its CEO Jeffrey Smith to the board. Kenvue, which was spun off from Johnson & Johnson in 2023, has been working to shore up profitability, especially in its struggling skin health and beauty unit, which includes brands like Neutrogena and Aveeno. "This change in leadership does not come as a surprise to us (and most likely many investors) given the company's fundamental performance," said RBC Capital Markets analyst Nik Modi, adding that a brand divestiture now appears more likely. The company said it had created a strategic review committee, advised by investment bank Centerview Partners and consulting firm McKinsey, to weigh portfolio simplification and potential divestitures. The company was already exploring the sale of some of its non-core skin health and beauty brands, Reuters reported in June. Mongon's ouster follows the departure of CFO Paul Ruh in May, who was replaced by Amit Banati from Kellanova.
Yahoo
16-07-2025
- Business
- Yahoo
Tylenol parent Kenvue has a new CEO, and he has lots of work to do to mollify activist investors
Two years ago, when Johnson & Johnson announced it was spinning off its consumer brands including Tylenol, Band-Aid, Motrin, Sudafed, and Neutrogena into a new company called Kenvue, investor anticipation was high. The thinking was simple: The company was packed with household names that had room to grow, untethered from all the problems of the J&J mothership. Kenvue shares rose 22% in their trading debut in May 2023. But the honeymoon was short-lived. Barely 15 months after the spinoff, activist investors tired of anemic growth, started to demand change. Since last autumn, Starboard, Third Point Capital and Toms Capital Investment Management have all pressured the company to find ways to accelerate growth and increase profit margins. All that culminated on Monday with the abrupt resignation of Kenvue CEO Thibaut Mongon, his replacement by board director Kirk Perry on an interim basis, and the confirmation that Kenvue is undertaking a strategic review in the hopes of 'optimizing' a sprawling portfolio and boosting profitability. 'Kenvue has world-class brands in attractive categories and a strong global platform. The actions announced today are to ensure we have the right talent, brand portfolio and operational foundation to fully capitalize on those strengths, accelerate profitable growth and best position the Company for future success,' said Larry Merlo, Kenvue's chair and the former CEO of CVS Health. The leadership shakeup comes on the heels of a rough earnings call. Kenvue announced on Monday that in its most recent quarter, it expects net sales to fall 4%, continuing a downward trend. As a result of that weak performance, shares fell from their all time high of about $27 in 2023 to around $21.25 today. In contrast, the S&P 500 has risen more than 40% in the last two years. Kenvue's challenges stem from the same factors that created so much optimism at its debut. J&J spun off its consumer business to focus on its highly profitable pharmaceutical businesses, much as Merck, Sanofi, Pfizer and GSK had in previous years. The goal was to streamline J&J, not make Kenvue's portfolio composition ideal from the start. The practice is not unusual in corporate America; spinoffs are often repositories for brands the parent company did not want. But Kenvue struggled to balance and diversify its own brand portfolio, and figure out a formula that would work outside of the J&J umbrella. In retrospect, a boosterish comment from Mongon on the day of the spinoff, who had been leading J&J's consumer business since 2019, seems like a warning sign. 'We are the only company of our size covering all of consumer health,' Mongon said in 2023. Fortune was unable to reach Mongon for comment. Ultimately, the activists pressuring Kenvue to sell off some brands, or even consider selling itself entirely (its market capitalization is $40 billion) have prevailed. Last month, Reuters reported that Kenvue was focusing on its marquee brands like Neutrogena, and considering selling many others including Clean & Clear, Maui Moisture, Neostrata, its German baby care brand Bebe, and Japanese brand With Perry at the helm now, Kenvue has a leader who is a veteran of Procter & Gamble, and intimately familiar with periodic portfolio resets that activists have clamored for. But Kenvue's shares barely budged after the CEO and strategic overview news. That suggests investors are not expecting Perry—or whoever becomes permanent CEO—to turn things around quickly. This story was originally featured on
Yahoo
15-07-2025
- Business
- Yahoo
Tylenol Maker Kenvue's CEO Departs Amid Strategic Review
Kenvue CEO Thibaut Mongon has stepped down as the company's chief executive and departed its board of directors. The move comes after Kenvue appointed a new chief financial officer in May. The Tylenol owner is also considering streamlining its brand portfolio, its chairman CEO of Tylenol maker Kenvue (KVUE) has left the company as part of an internal review of the company's operations. The company, which also owns brands including Band-Aid, Johnson's, Aveeno, Neutrogena, and Listerine, said Thibaut Mongon has stepped down as the company's chief executive and departed its board of directors. He has been succeeded in an interim capacity by Director Kirk Perry. Shares of Kenvue were down about 1% in recent trading Monday after jumping in premarket trading. The stock is roughly flat for 2025. As part of the ongoing strategic review, Kenvue previously replaced its chief financial officer in May. The company, spun off from Johnson & Johnson (JNJ) in 2023, is also considering streamlining its brand portfolio, Chairman Larry Merlo said. Meanwhile, Kenvue issued preliminary financial results for the second quarter ended June 29. The company expects to report adjusted earnings per share of 28 cents to 29 cents, which matches the consensus expectation of analysts tracked by Visible Alpha. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
