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Johnson & Johnson Announces Kenvue as the Name for Planned New Consumer Health Company
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Johnson & Johnson (NYSE: JNJ) announced its new consumer health company name, Kenvue, marking a significant step in its planned separation. Kenvue, signifying 'knowledge' and 'view,' aims to provide innovative health solutions globally. With a revenue of $14.6 billion in 2021, Kenvue will operate across 100+ countries. CEO Thibaut Mongon emphasized Kenvue's commitment to everyday care, leveraging its rich portfolio of iconic brands like Tylenol and Neutrogena. The separation is expected to complete in 2023.
Positive
Kenvue is positioned as a leading global consumer health company with a strong portfolio of iconic brands.
Revenue for the Consumer Health segment was $14.6 billion in 2021, indicating solid financial performance.
Negative
The completion of the planned separation is contingent on legal requirements, which could delay Kenvue's launch.
Modern name, purpose, and visual identity mark inspiring next chapter for maker of iconic, trusted brands, including Tylenol, Neutrogena, Listerine, and Band-Aid Brand
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--
Johnson & Johnson (the “Company”) (NYSE: JNJ) today took another step forward in establishing two independent, market-leading companies with the announcement of Kenvue as the name for the planned New Consumer Health Company. The new corporate brand comes to life through a compelling purpose, and a timeless visual brand.
Kenvue (pronounced ken·view), is inspired by two powerful ideas: “ken” – meaning knowledge, an English word primarily used in Scotland, and “vue,” referencing sight. With rich knowledge of human needs and deep consumer insights, Kenvue will deliver meaningful, personal health solutions.
“Unveiling the Kenvue brand is a defining moment for our stakeholders and an important part of the planned separation,” said Thibaut Mongon, CEO Designate, Kenvue, the planned New Consumer Health Company. “We breathe life into some of the world’s most iconic and beloved brands every day, so we harnessed that same expertise, love, and energy into developing our new corporate identity.”
Kenvue’s purpose, Realize the Extraordinary Power of Everyday Care, will guide the company’s actions and long-term aspirations, from strategy to talent philosophy, and more.
“We believe that daily self-care rituals add up over time and have a profound cumulative impact on your wellbeing. This is the extraordinary power of everyday care. And our work is to put that power into the hands of consumers around the world,” Mongon adds.
Along with the name and purpose, Kenvue’s visual identity represents the company’s timelessness, while allowing space for its iconic brands to also have a home. The new logo centers on the “K” symbol, embodying the company’s strengths – the geometry of the rectangle representing scientific precision and the round edges evoking the warmth of care. The corporate name is depicted in a distinctive logotype in a rich green. This strong, distinctive color works in harmony with the multicolored palette of the company’s portfolio of well-known brands.
Joaquin Duato, Chief Executive Officer of Johnson & Johnson adds, “Today’s announcement is another milestone for the Consumer Health business. Kenvue is poised to thrive as a standalone company with a leading portfolio of brands consumers love and trust. I’m confident in this team and excited to see what the future holds.”
Kenvue Post-Separation: A Leading Global Consumer Health Company with Iconic Brands and Commitment to Continued Innovation
Kenvue will become a standalone leading global consumer health company in 2023, subject to legal requirements including consultation with works councils and employee representatives, as required. Kenvue will continue to touch the lives of over one billion consumers worldwide every day through its iconic portfolio of beloved brands such as AVEENO®, BAND-AID® Brand Adhesive Bandages, LISTERINE®, NEUTROGENA®, TYLENOL®, JOHNSON’S® and DR. CI:LABO®, and will continue its longstanding legacy of innovation.
Usage of the new company logo and corporate brand identity will be effective upon completion of the planned separation. More information regarding Kenvue, including the company’s board of directors and financial transaction information will be available at a later date.
The Consumer Health segment generated revenue of $14.6 billion in Full-Year 2021 and, following the planned separation, Kenvue would generate sales in over 100 countries, driven by world-class innovation capabilities and demonstrated business momentum.
In recent years, Johnson & Johnson has focused the Consumer Health business and advanced its innovation, enabling it to reach more consumers with products that truly make a difference in peoples’ lives, while simultaneously expanding margins and delivering healthy financial results. These actions have bolstered positions in Self Care, Skin Health and Essential Health.
About Johnson & Johnson
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based healthcare company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. Learn more at www.jnj.com. Follow us at @JNJNews.
Cautions Concerning Forward-Looking Statements
This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: the anticipated separation of Johnson & Johnson’s Consumer Health business; future operating and financial performance, product development, market position and business strategy. Readers are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: Johnson & Johnson’s ability to satisfy the necessary conditions to consummate the separation of Johnson & Johnson’s Consumer Health business on a timely basis or at all; Johnson & Johnson’s ability to successfully separate Johnson & Johnson’s Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company’s ability to succeed as a standalone publicly traded company; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including unexpected clinical trial results, additional analysis of existing clinical data, uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; the ability of Johnson & Johnson to successfully execute strategic plans, including restructuring plans; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws, global health care reforms and import/export and trade laws; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in Johnson & Johnson’s most recently filed Quarterly Report on Form 10-Q and in Johnson & Johnson’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this press release speaks only as of the date of this press release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
