Kenway Solved the agency battle with the value of activist starboard, adding three new directors to its board.
Starboard’s Jeff Smith will join the board of directors of Johnson & Johnson spin-offs, along with Sarah Hofstetter, president of Ecommerce Performance Analytics platform Profitero and Erica Mann, former head of the pharmaceutical company Bayer Department of Consumer Health.
“Sarah’s brand building and digital marketing expertise, Erica’s global consumer health industry experience, Jeff’s investor perspectives and a broad range of services on the company’s board will further enhance the board through complementary, value-added skill sets,” said Larry Merlo, chairman of the Kenvue Board of Directors. statement Wednesday.
CNBC reported in October that there was a starboard Accumulated important shares In the company, disappointment was expressed in its management and share price performance.
Kenvue is a manufacturer of iconic brands familiar to investors and the wider public, such as Aveeno, Band-Aid, Listerine, Listerine, Neutrogena, Tylenol and J&J’s baby powder and shampoo.
J&J separated from Kenvue in August 2023, but the pharmaceutical company still owns a stake in the consumer goods giant. It marks the largest restructuring in J&J’s nearly 140 years of history.
