Kenvue ceo mongon stepping down as company continues with strategic review

Kenvue says that Thibaut Mongon is stepping down as its CEO as the maker of Listerine and Band-Aid brands continues with a strategic review of the company. Kenvue used to be a part of Johnson & Johnson. J&J announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions in a bid to make each more nimble.

Kenvue said Monday that board member Kirk Perry will serve as interim CEO effective immediately. Perry has served as a director since December and most recently served as CEO of Circana a provider of market research. He spent more than 20 years at Procter & Gamble in various roles.

Kenvue also said that it is continuing to work with its strategic review committee to explore options for the company. 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,” Chair Larry Merlo said in a statement.

Kenvue provided some preliminary results for its fiscal second quarter. The company anticipates adjusted earnings in a range of 28 cents to 29 cents per share. Analysts polled by FactSet expect earnings of 28 cents per share.

Kenvue will report its full quarterly results on Aug. 7 and said that it will revise its full-year outlook on that date. Shares rose more than 4 percent before the market open.