Kenvue Highlights Commitment to Shareholder Value
Kenvue (NYSE: KVUE), the world's largest pure-play consumer health company by revenue, has responded to Starboard Value's submission of four director nominees for election to Kenvue's Board at the 2025 Annual Meeting of Shareholders. The company emphasized its commitment to shareholder value and ongoing engagement with shareholders, noting previous discussions between Kenvue's Board and Starboard.
The company highlighted its focus on portfolio optimization through increased marketing investments supported by cost savings initiatives. Kenvue's Board currently consists of 11 highly qualified directors with executive leadership experience in consumer, retail, and healthcare companies. Recently, two Johnson & Johnson executives resigned from the Board and were replaced by two new independent directors.
The Board is currently reviewing Starboard's proposed candidates and will provide its formal recommendation in due course.
Kenvue (NYSE: KVUE), la più grande azienda di salute dei consumatori al mondo per fatturato, ha risposto alla presentazione da parte di Starboard Value di quattro candidati per il consiglio di amministrazione da eleggere nella riunione annuale degli azionisti del 2025. L'azienda ha sottolineato il proprio impegno verso il valore per gli azionisti e il continuo coinvolgimento con gli azionisti, evidenziando le precedenti discussioni tra il consiglio di amministrazione di Kenvue e Starboard.
L'azienda ha messo in evidenza il suo focus sull'ottimizzazione del portafoglio attraverso aumentati investimenti in marketing supportati da iniziative di risparmio sui costi. Attualmente, il consiglio di amministrazione di Kenvue è composto da 11 direttori altamente qualificati con esperienza dirigenziale nelle aziende di consumo, vendita al dettaglio e sanità. Recentemente, due dirigenti di Johnson & Johnson si sono dimessi dal consiglio e sono stati sostituiti da due nuovi direttori indipendenti.
Il consiglio sta attualmente esaminando i candidati proposti da Starboard e fornirà la sua raccomandazione formale a tempo debito.
Kenvue (NYSE: KVUE), la mayor empresa de salud del consumidor del mundo por ingresos, ha respondido a la presentación de cuatro candidatos por parte de Starboard Value para la elección en la Junta de Kenvue durante la Reunión Anual de Accionistas de 2025. La empresa ha enfatizado su compromiso con el valor para los accionistas y el continuo compromiso con ellos, señalando las discusiones previas entre la Junta de Kenvue y Starboard.
La empresa destacó su enfoque en la optimización de la cartera a través de aumentos en las inversiones de marketing respaldadas por iniciativas de ahorro de costos. Actualmente, la Junta de Kenvue está compuesta por 11 directores altamente calificados con experiencia en liderazgo ejecutivo en empresas de consumo, retail y salud. Recientemente, dos ejecutivos de Johnson & Johnson renunciaron a la Junta y fueron reemplazados por dos nuevos directores independientes.
La Junta está revisando actualmente los candidatos propuestos por Starboard y proporcionará su recomendación formal a su debido tiempo.
Kenvue (NYSE: KVUE), 세계에서 수익이 가장 큰 소비자 건강 회사,가 Starboard Value가 Kenvue 이사회의 이사가 될 후보 4명을 제출한 것에 대해 응답했습니다. 회사는 주주 가치에 대한 헌신과 주주와의 지속적인 소통을 강조하며, Kenvue 이사회와 Starboard 간의 이전 논의들을 언급했습니다.
회사는 비용 절감 이니셔티브를 통해 지원되는 마케팅 투자 증가를 통한 포트폴리오 최적화에 집중하고 있음을 강조했습니다. 현재 Kenvue 이사회는 소비재, 소매 및 헬스케어 회사의 경영 리더십 경험이 있는 11명의 고도로 자격을 갖춘 이사들로 구성되어 있습니다. 최근 두 명의 Johnson & Johnson 임원이 이사회에서 사퇴했으며 두 명의 새로운 독립 이사가 그 자리를 대체했습니다.
이사회는 현재 Starboard의 제안 후보자를 검토하고 있으며 적절한 시기에 공식 권고를 제공할 것입니다.
Kenvue (NYSE: KVUE), la plus grande entreprise de santé grand public au monde en termes de revenus, a répondu à la soumision par Starboard Value de quatre candidats à la direction pour élection au conseil d'administration de Kenvue lors de l'Assemblée Générale Annuelle des Actionnaires de 2025. L'entreprise a souligné son engagement envers la valeur pour les actionnaires et son engagement continu avec ces derniers, en notant les discussions précédentes entre le conseil d'administration de Kenvue et Starboard.
L'entreprise a mis en avant son objectif d'optimisation de portefeuille grâce à des investissements marketing accrus soutenus par des initiatives d'économies de coûts. Le conseil d'administration de Kenvue se compose actuellement de 11 administrateurs hautement qualifiés ayant une expérience en leadership exécutif dans les entreprises de consommation, de vente au détail et de santé. Récemment, deux dirigeants de Johnson & Johnson ont démissionné du conseil et ont été remplacés par deux nouveaux administrateurs indépendants.
Le conseil examine actuellement les candidats proposés par Starboard et fera sa recommandation officielle en temps voulu.
Kenvue (NYSE: KVUE), das größte Unternehmen für Verbrauchergesundheit der Welt nach Umsatz, hat auf die Einreichung von vier Direktorenkandidaten durch Starboard Value für die Wahl in den Vorstand von Kenvue bei der Jahreshauptversammlung 2025 reagiert. Das Unternehmen betonte sein Engagement für den Shareholder-Value und den fortlaufenden Dialog mit den Aktionären und verwies auf frühere Gespräche zwischen dem Vorstand von Kenvue und Starboard.
Das Unternehmen hob seinen Fokus auf die Portfolio-Optimierung durch erhöhte Marketinginvestitionen hervor, die durch Kostensenkungsinitiativen unterstützt werden. Der Vorstand von Kenvue besteht derzeit aus 11 hochqualifizierten Direktoren, die über Führungserfahrung in Unternehmen der Bereiche Verbrauchsgüter, Einzelhandel und Gesundheitswesen verfügen. Kürzlich haben zwei Führungskräfte von Johnson & Johnson aus dem Vorstand ausgeschieden und wurden durch zwei neue unabhängige Direktoren ersetzt.
Der Vorstand prüft derzeit die von Starboard vorgeschlagenen Kandidaten und wird zu gegebener Zeit seine offizielle Empfehlung abgeben.
- Recent appointment of two new independent directors strengthening board independence
- Implementation of cost savings and productivity initiatives
- Strong market position as world's largest pure-play consumer health company
- Potential board disruption from activist investor involvement
- Ongoing corporate governance challenges with director nomination contest
Insights
This activist campaign by Starboard Value marks a pivotal moment for Kenvue, coming relatively soon after its separation from Johnson & Johnson. The timing is particularly noteworthy as Kenvue is still establishing itself as an independent entity. Starboard's involvement typically signals a push for operational improvements, cost reduction initiatives, or potential portfolio restructuring.
The current board's composition, featuring 11 directors with diverse expertise across consumer, retail and healthcare sectors, appears strategically aligned with Kenvue's business model. However, Starboard's intervention suggests they see untapped value potential, possibly in areas such as:
- Operational efficiency improvements in the company's extensive brand portfolio
- Enhanced capital allocation strategies
- Potential acceleration of the ongoing cost savings and productivity initiatives
- More aggressive marketing investment optimization
The recent appointment of two independent directors replacing Johnson & Johnson executives indicates the board's proactive approach to governance evolution. However, Starboard's nomination suggests they believe more dramatic changes are needed to unlock shareholder value. This situation creates a complex dynamic where the board must balance maintaining strategic continuity while potentially incorporating new perspectives that could reshape the company's trajectory.
For investors, this development introduces both opportunities and risks. Starboard's track record in consumer sectors includes successful interventions that have enhanced shareholder value. However, the timing of this campaign during Kenvue's early independence phase adds complexity to the execution of any proposed changes.
Company Confirms Receipt of Director Nominees from Starboard Value
No Shareholder Action Required at This Time
The Kenvue Board and management team are committed to acting in the best interests of Kenvue and our shareholders. We engage regularly with our shareholders and are open to constructive dialogue with and suggestions from Kenvue shareholders. We note that members of Kenvue’s Board of Directors and management team have held several discussions with Starboard.
We are working across our business to unleash the full potential of Kenvue’s portfolio, powered by increased marketing investments driven by our cost savings and productivity initiatives. Kenvue is a global leader in consumer health with strong brands, capabilities and teams that we believe will enable us to drive sustainable profitable growth and enhance shareholder value.
Kenvue’s Board recognizes the importance of ensuring the right combination of skills and experience, as well as independent director oversight, and regularly evaluates its composition. We recently appointed two new independent directors with the resignation of two Johnson & Johnson executives from the Board. Kenvue’s Board today is composed of 11 highly qualified directors who have held executive leadership roles and board positions, including at world-class consumer, retail and healthcare companies. Each director brings expertise in areas that are highly relevant to the execution of the Company’s strategic priorities, including strategy, brand-building and marketing, e-commerce, corporate finance, and business development.
Kenvue’s Board has been reviewing Starboard’s proposed director candidates and will present its formal recommendation in due course.
About Kenvue
Kenvue is the world’s largest pure-play consumer health company by revenue. Built on more than a century of heritage, our iconic brands, including Aveeno®, BAND-AID® Brand, Johnson’s®, Listerine®, Neutrogena® and Tylenol®, are science-backed and recommended by healthcare professionals around the world. At Kenvue, we believe in the extraordinary power of everyday care and our teams work every day to put that power in consumers’ hands and earn a place in their hearts and homes. Learn more at www.kenvue.com.
Cautions Concerning Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements about management’s expectations of Kenvue’s future operating and financial performance, product development, market position, and business strategy. Forward-looking statements may be identified by the use of words such as “plans,” “expects,” “will,” “anticipates,” “estimates,” and other words of similar meaning. The reader is 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 Kenvue and its affiliates. Risks and uncertainties include, but are not limited to: the inability to execute on Kenvue’s business development strategy; inflation and other economic factors, such as interest rate and currency exchange rate fluctuations; the ability to successfully manage local, regional or global economic volatility, including reduced market growth rates, and to generate sufficient income and cash flow to allow Kenvue to effect any expected share repurchases and dividend payments; Kenvue’s ability to access capital markets and maintain satisfactory credit ratings, which could adversely affect its liquidity, capital position and borrowing costs; competition, including technological advances, new products and intellectual property attained by competitors; challenges inherent in new product research and development; uncertainty of commercial success for new and existing products and digital capabilities; challenges to intellectual property protections including counterfeiting; the ability of Kenvue to successfully execute strategic plans, including Our Vue Forward and other restructuring or cost-saving initiatives; the impact of business combinations and divestitures, including any ongoing or future transactions; 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 and other requirements imposed by stakeholders; changes in behavior and spending patterns of consumers; natural disasters, acts of war (including the Russia-Ukraine War and conflicts in the
Additional Information and Where to Find it
Kenvue intends to file with the SEC a proxy statement on Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for Kenvue’s 2025 Annual Meeting of Shareholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY KENVUE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by Kenvue free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by Kenvue are also available free of charge by accessing Kenvue’s investor relations website at investors.kenvue.com.
Participants
Kenvue, its directors and executive officers and other members of management and employees will be participants in the solicitation of proxies with respect to a solicitation by Kenvue. Information about Kenvue’s executive officers and directors is available in Kenvue’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 1, 2024, in its proxy statement for the 2024 Annual Meeting of Shareholders, as filed with the SEC on April 10, 2024, and in its Current Report on Form 8-K filed with the SEC on July 31, 2024. To the extent holdings by our directors and executive officers of Kenvue securities reported in the proxy statement for the 2024 Annual Meeting of Shareholders or in such Form 8-K have changed, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, including the Form 3s filed with the SEC on May 28, 2024, August 16, 2024 and December 3, 2024 and the Form 4s filed with the SEC on April 3, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, May 28, 2024, June 5, 2024, July 1, 2024, September 19, 2024, September 30, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 3, 2024, December 13, 2024, December 13, 2024 and December 13, 2024. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250205461417/en/
Investor Relations:
Sofya Tsinis
Kenvue_IR@kenvue.com
Media Relations:
Melissa Witt
media@kenvue.com
Source: Kenvue
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