Kenvue CEO Steps Down Amid Board’s Strategic Review and Performance Push

Thibaut Mongon has resigned as CEO and board member of Kenvue Inc., the consumer health company spun off from Johnson & Johnson. This marks the second significant executive change at the firm, which has been under pressure from activist investors to improve performance.

Shares of Kenvue, known for brands like Tylenol and Band-Aid, saw a 3.3% rise in premarket trading following the announcement. Company director Kirk Perry has been named interim CEO. Perry brings extensive experience, including 23 years at Procter & Gamble and most recently serving as president and CEO of Circana.

The leadership change comes as Kenvue continues a strategic review initiated by its board, aiming to optimize its brand portfolio and improve profitability, particularly within its skin-health and beauty unit (including Neutrogena and Aveeno). Board chair Larry Merlo stated that the review is considering a broad range of potential alternatives, including portfolio simplification.

Reports indicate Kenvue is exploring the sale of some skin health and beauty brands. The review panel is receiving advice from Centerview Partners and McKinsey & Company. The company also anticipates reporting adjusted earnings per share between 28 cents and 29 cents for the quarter that ended June 29, ahead of its second-quarter results release and 2025 forecast revision scheduled for August 7.

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