US EditionTylenol-Maker Kenvue Fires CEO Thibaut Mongon, Hires Kirk Pery as Interim CEO
SUMMIT, NEW JERSEY, JUL 14 – Kirk Perry takes over as interim CEO amid activist investor pressure as Kenvue begins strategic review to improve profitability and streamline brand portfolio, shares rose 3.3%, analysts expect 28 cents EPS.
- On Monday, Kenvue announced it had fired Thibaut Mongon, and Kenvue said board member Kirk Perry will serve as interim CEO, effective immediately.
- Since last autumn, pressure from activists Starboard, Third Point and Toms Capital Investment Management prompted demands for change, as they pressed for faster growth and higher margins.
- Larry Merlo said the board’s strategic review is underway to simplify operations and brands, noting it will consider options to optimize the company's portfolio.
- Meanwhile, the board enlisted Heidrick & Struggles for CEO recruitment, triggering shares up over 4% premarket and immediate search efforts.
- On August 7, 2025, the company will report results and revise its outlook, with anticipated adjusted EPS of 28–29 cents for the quarter ended June 29, 2025.
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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…
Coinbase Gains; Kenvue Leadership Change; Synopsis Early Move Up - Stock Movers
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Associated Press News
Kenvue CEO Mongon leaves the consumer health company as it continues its strategic review
Kenvue says that CEO Thibaut Mongon is departing as the maker of Listerine and Band-Aid brands continues with a strategic review of the company.
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