Kenvue (KVUE), the consumer health giant behind brands like Tylenol, Listerine, and Neutrogena, announced a major leadership shakeup. Effective immediately, Chief Executive Officer Thibaut Mongon has stepped down from his role and the board. This marks KVUE’s second major executive change in 2025 as it faces pressure to improve performance.
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The board has appointed Kirk Perry as interim CEO. He brings 23 years of experience from Procter & Gamble (PG) and was most recently CEO of the tech and data analytics firm, Circana.
It must be mentioned that Mongon’s departure follows the exit of CFO Paul Ruh in May 2025.
KVUE Expects 4% Sales Drop in Q2
Kenvue also released preliminary Q2 results, forecasting a 4% decline in sales and adjusted earnings per share between $0.28 and $0.29. The company cited soft consumer demand, retailer inventory reductions, and tariff pressures in key international markets as key headwinds.
The company is slated to release its second-quarter results on August 7 and is expected to share its updated full-year outlook.
KVUE Conducts Strategic Review
The leadership change comes as Kenvue undertook a strategic review to streamline its business and boost shareholder value.
Board Chair Larry Merlo noted that the review considers a wide range of options, such as operational restructuring and portfolio optimization. “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 said.
The company is reportedly exploring the sale of several smaller beauty and skin health brands, such as Clean & Clear, Maui Moisture, Neostrata, and Bebe, while doubling down on core franchises like Neutrogena and Aveeno.
Is KVUE a Buy, Sell, or Hold?
Turning to Wall Street, KVUE stock has a Moderate Buy consensus rating based on five Buys and seven Holds assigned in the last three months. At $25.50, the average Kenvue stock price target implies an 18.44% upside potential.
