Kenvue Shakes Up Leadership as Profits Lag

Kenvue, the company behind popular brands like Tylenol and Neutrogena, is going through some big changes. The CEO, Thibaut Mongon, has stepped down. This is the second major leadership change in a short time. The company is under pressure from investors to improve its performance, especially in its skin care and beauty products. Kirk Perry, a former Procter & Gamble executive, is now the interim CEO. He has a lot of experience in the consumer goods industry. Kenvue was spun off from Johnson & Johnson last year and has been struggling to boost profits. The company is reviewing its options, including selling some of its brands. The board chair, Larry Merlo, said they are looking at ways to simplify the company's portfolio. This could mean getting rid of some products or changing how they operate. Kenvue is also expecting to report earnings of 28 to 29 cents per share for the last quarter. Analysts are predicting a profit of 28 cents when the company releases its second-quarter results. The company will also update its forecast for 2025.