Kenvue Inc. marks the halfway point of its first full year as an independent company by increasing its full-year marketing spending behind its consumer health and beauty lines on confidence that consumers are willing to continue to pay more for its brands.
“When we look at the consumers in the US, and frankly, around the world, we see that consumers continue to be thoughtful and choiceful on where they make trade-offs
J&J Execs Leaving Kenvue Board
After Johnson & Johnson spun out Kenvue in May 2023 through an initial public offering of shares, the firms maintained a “transition services agreement” providing manufacturing operations for Kenvue and giving J&J some corporate influence.
The agreement lapsed at the end of the first quarter, when Kenvue’s board approved reducing its global workforce by around 4% with annualized pre-tax gross cost savings of around $350m to be reached in 2026 and to be reinvested into its brands. (Also see "Kenvue Cutting Staff 4% After Year Apart From J&J" - HBW Insight, 8 May, 2024.)
Another sign of the agreement’s end was the recent announcement that two J&J executives, chief human resources officer Peter Fasolo and chief financial officer Joseph Wolk, would leave the Kenvue board in December
Read the full article – start your free trial today!
Join thousands of industry professionals who rely on HBW Insight for daily insights
- Start your 7-day free trial
- Explore trusted news, analysis, and insights
- Access comprehensive global coverage
- Enjoy instant access – no credit card required
Already a subscriber?