Kenvue has set its proxy fight with the starboard value of the activist, adding three new administrators to its board.
Jeff Smith of Starboard will join the painting of Johnson & Johnson Spinoff, with Sarah Hofstetter, President of Profito, a platform for analysis of electronic commerce, and Erica Mann, former head of the pharmaceutical company Bayer’s Consumer health division.
“Sarah’s digital brand creation and digital marketing expertise, Erica’s Consumer Industry Experience, and Jeff’s investors’ perspective and the business on business boards of directors will further strengthen the board of directors with additional additive value skills,” said Larry Merlo, Chairman of the Kenvue Board of Directors on Wednesday.
CNBC reported in October that Starboard had raised an important participation in the company and had expressed its disappointment in its management and its performance of the share price.
Kenvue is the manufacturer of emblematic brands familiar to investors and the wider public, such as Aveeno, Band-Aid, Listerine, Neutrogena, Tylenol and J & J, baby powder and shampoo.
J&J finished his separation from Kenvue in August 2023 and has since sold all his remaining participation in the giant of consumer goods. He marked the greatest upheaval in the history of J & J almost 140 years old.