SUMMIT, N.J.– Kenvue Inc. (NYSE: KVUE) announced a major leadership change and a series of strategic actions aimed at boosting long-term shareholder value. The company’s Board of Directors has appointed Kirk Perry as Interim Chief Executive Officer, effective immediately, and is advancing a comprehensive review of strategic alternatives to strengthen the business and streamline operations.
Perry, a seasoned executive with more than three decades of experience in consumer-packaged goods and technology, succeeds Thibaut Mongon, who has stepped down as CEO and resigned from the Board. The search for a permanent CEO is underway with assistance from executive search firm Heidrick & Struggles.
“Kenvue has world-class brands in attractive categories and a strong global platform,” said Larry Merlo, Chair of the Board. “The actions announced today are designed to ensure we have the right leadership, brand portfolio, and operational structure to fully capitalize on those strengths and accelerate profitable growth.”
Perry, who joined Kenvue’s Board in December 2024, previously served as CEO of Circana and held senior leadership roles at Google and Procter & Gamble. “I’m excited to work alongside the leadership team to help Kenvue achieve its full potential,” said Perry. “We have an opportunity to deliver top-tier financial performance and drive long-term value for shareholders.”
As part of its strategic review, Kenvue’s Board has formed a Strategic Review Committee, with advisory support from Centerview Partners and McKinsey & Company. The committee is evaluating a broad range of options, including potential changes to the company’s brand portfolio and operating model.
Kenvue also reported select preliminary financial results for the second quarter ended June 29, 2025. The company expects a 4.0% decline in net sales and a 4.2% drop in organic sales. Preliminary diluted earnings per share are expected to be between $0.21 and $0.22, with adjusted diluted earnings per share between $0.28 and $0.29. Full second-quarter results will be released on August 7, when Kenvue also plans to update its full-year financial outlook.
The leadership transition and strategic review come as Kenvue navigates a competitive consumer health market, with the Board focused on optimizing performance and delivering consistent value to investors.
