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.
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.
