Kenvue Inc. has brought in an interim CEO as its board launches a "comprehensive review of strategic alternatives" that could potentially include a sell-off of beauty and personal care brands.
Kenvue is a consumer health spinoff of Johnson & Johnson and is home to personal care/beauty brands such as Neutrogena, OGX, Johnson's Baby and Adult, Aveeno, Maui Moisture, Le Petit Marseillais, Neostrata, Clean & Clear, Lubriderm, and Listerine.
The news follows reports that Coty is also exploring the sale of its prestige and consumer brands, which could include everything from Gucci Beauty, Burberry Beauty and Kylie Cosmetics to CoverGirl, Sally Hansen and Max Factor.
Combined, there could soon be a wide array of brands seeking buyers.
Kirk Perry Appointed Interim CEO as Kenvue Undergoes Strategic Review
Amid the review of the company, Kenvue has brought in Kirk Perry as interim CEO, succeeding Thibaut Mongon, who has also exited the company's board. Kirk formerly lead Circana/IRI and spent 23 years at Procter & Gamble. The executive was already a member of the Kenvue board at the time of his appointment.
The appointment was accompanied by the release of preliminary fiscal Q2 results for the three months ending June 29, 2025, which reflected a net sales drop of 4% and organic sales decline of 4.2%.
The Kenvue board has launched a strategic review, led by a strategic review committee, to explore various options for optimizing Kenvue’s brand portfolio, improving execution, and enhancing performance to drive profitable growth and unlock value.
Supported by Centerview Partners and McKinsey & Company, the review aims to identify opportunities to strengthen the company’s operations.
“Kenvue has world-class brands in attractive categories and a strong global platform," said Larry Merlo, Kenvue’s chair of the board. "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. 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. At the same time, with the CEO transition and recent appointment of a new CFO, we are aligning leadership expertise to drive the Company forward. We are confident that the steps we are taking put Kenvue on the right path to deliver both near- and long-term value creation for shareholders.”
Merlo added, “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.”
Merlo concluded, “On behalf of the Board, I want to thank Thibaut for his oversight in establishing Kenvue as a standalone company and for his commitment to the organization throughout his tenure.”
Perry added, “I have seen firsthand Kenvue’s many strengths and share the Board’s confidence in the Company’s growth and value creation opportunities. As interim CEO, 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.”
