Tylenol Maker Kenvue's CEO Departs Amid Strategic Review

Key Takeaways

• Kenvue CEO Thibaut Mongon has stepped down as the company’s chief executive and departed its board of directors.
• The move comes after Kenvue appointed a new chief financial officer in May.
• The Tylenol owner is also considering streamlining its brand portfolio, its chairman said.

The CEO of Tylenol maker Kenvue (KVUE) has left the company as part of an internal review of the company’s operations. 

The company, which also owns brands including Band-Aid, Johnson's, Aveeno, Neutrogena, and Listerine, said Thibaut Mongon has stepped down as the company’s chief executive and departed its board of directors. He has been succeeded in an interim capacity by Director Kirk Perry. 

Shares of Kenvue were down about 1% in recent trading Monday after jumping in premarket trading. The stock is roughly flat for 2025. 

As part of the ongoing strategic review, Kenvue previously replaced its chief financial officer in May. The company, spun off from Johnson & Johnson (JNJ) in 2023, is also considering streamlining its brand portfolio, Chairman Larry Merlo said. 

Meanwhile, Kenvue issued preliminary financial results for the second quarter ended June 29. The company expects to report adjusted earnings per share of 28 cents to 29 cents, which matches the consensus expectation of analysts tracked by Visible Alpha.

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