Kathleen Pawlus, Retired Partner and Global
Assurance Chief Financial Officer and Chief Operating Officer at
EY, and Kirk Perry, Circana President and CEO and Former Procter
& Gamble and Google Executive, to Join the Board of
Directors
Current Johnson & Johnson Executives to
Step Down from Kenvue Board of Directors
Kenvue Inc. (“Kenvue” or the “Company”) (NYSE: KVUE), the
world’s largest pure-play consumer health company by revenue, today
announced the implementation of a Board of Directors (“the Board”)
succession process, in line with the Company’s commitment to
best-in-class corporate governance and independent Board
oversight.
Appointment of Two New Independent Directors to the
Board
The Board has appointed Kathleen M. Pawlus and Kirk L. Perry as
new independent directors, effective August 15, 2024, and December
1, 2024, respectively.
Ms. Pawlus brings over 40 years of audit, finance, strategy,
mergers and acquisitions, quality, information technology and
administration experience to the Company, having previously served
as a partner at Ernst and Young, LLP (“EY”) and Chief Financial
Officer and Chief Operating Officer of its Global Assurance group.
Upon joining the Board, Ms. Pawlus will serve as a member of the
Audit Committee.
Mr. Perry currently serves as President and Chief Executive
Officer of Circana, a global provider of technology, data, and
predictive analytics for the consumer, retail and media sectors. He
is a seasoned consumer products and brand strategist, with more
than 30 years of consumer packaged goods and technology experience
at two of the world’s largest and most respected companies, Procter
& Gamble and Google. Upon joining the Board, Mr. Perry will
serve as a member of the Compensation & Human Capital
Committee.
“Entering our second year as an independent public company, our
Board succession process will ensure our Board of Directors further
strengthens our diverse mix of backgrounds and skills, as well as
independent director oversight, as our leadership executes our
revenue and margin growth plan and we maintain our commitment to
and focus on driving shareholder value,” said Larry Merlo, Chair,
Kenvue Board of Directors. “We are pleased that Kathleen and Kirk
will join our Board. Kathleen and Kirk are highly experienced
global leaders with strong track records in finance, consumer
brands, and technology. Kathleen brings deep expertise across
finance and accounting as well as strategy and operations, and Kirk
brings a deep background in consumer packaged goods, brand
management, strategy, operations, and technology. We are confident
they will be valuable additions to our Board and look forward to
gaining from their additional insights.”
“I am thrilled to join the Kenvue Board during this important
phase in the Company’s evolution,” said Ms. Pawlus. “I look forward
to leveraging my experience and collaborating with my fellow
directors and management to help accelerate the momentum underway
as Kenvue continues to advance toward its ambition to become the
undisputed leader in consumer health.”
“I am eager to begin working alongside the rest of the Kenvue
Board and supporting the management team as the Company executes
against its strategic priorities,” said Mr. Perry. “It’s an honor
to join the Board and be a part of bringing Kenvue’s iconic brands
to market to positively impact people’s health and wellness.”
Resignation of Two Current Johnson & Johnson Executives
from Board
Following the sale of Johnson & Johnson’s remaining stake in
Kenvue in May 2024, Peter M. Fasolo, Ph.D., and Joseph J. Wolk,
current Johnson & Johnson executives, advised Kenvue’s Board
that they will resign from the Board, effective in December 2024,
at the time Mr. Perry is expected to join the Board. Following the
implementation of this Board succession process, Kenvue expects the
Board to be composed of 11 directors, 10 of whom will be
independent, as of the Company’s 2025 Annual Meeting of
Shareholders.
Mr. Merlo concluded, “On behalf of the entire Board, I would
like to thank Peter and Joe for their tremendous contributions as
Kenvue separated from Johnson & Johnson. They provided valuable
support as the Company formulated and executed on its new strategy,
and we appreciate their partnership at such an important time for
the business.”
“The Kenvue Leadership Team and I are grateful for Peter’s and
Joe’s commitment to making Kenvue’s separation a smooth and
successful transition,” added Thibaut Mongon, Chief Executive
Officer, Kenvue. “We look forward to welcoming Kathleen and Kirk to
our Board as we focus on reaching more consumers, reinventing our
ways of working to invest more behind our brands, and fostering a
culture that rewards performance and impact as we deliver long-term
value for our shareholders.”
About Kathleen M. Pawlus Kathleen Pawlus previously
served as partner of EY, and as Chief Financial Officer and Chief
Operating Officer of EY’s Global Assurance group, which is one of
the largest of EY’s four service lines and includes its Audit
Practice, Fraud, Investigation and Dispute Services Practice,
Climate Change and Sustainability Services Practice and its
Financial Accounting Advisory Services Practice. She spent her
entire career at EY and brings more than four decades of experience
to Kenvue. Prior to her role as Chief Financial Officer and Chief
Operating Officer of EY’s Global Assurance group, she served as
EY’s Americas Chief Financial Officer, Global PBFA Function Leader
and U.S. Firm Chief Financial Officer responsible for finance, IT
operations, treasury, purchasing and facilities. Ms. Pawlus served
on EY’s U.S. Executive Board from 2006 to 2012. She currently
serves as a board member of AMC Entertainment Holdings, Inc. Ms.
Pawlus has a B.S. from Indiana University and is a Certified Public
Accountant.
About Kirk L. Perry Kirk Perry currently serves as
President and Chief Executive Officer and a member of the board of
directors of Circana, a global provider of technology, data, and
predictive analytics for the consumer, retail and media sectors. He
brings a deep understanding of the global consumer marketplace from
both the manufacturer and technology-based service provider
perspective, with more than 30 years of consumer packaged goods and
technology experience. Prior to joining Circana, Mr. Perry served
as President, Global Client and Agency Solutions at Google, and was
responsible for driving Google’s global revenue and growing its
relationships with the world’s largest advertisers and advertising
agencies. Before Google, Mr. Perry spent 23 years with Procter
& Gamble, where he held several positions of increasing
responsibility in general management and marketing roles, including
President of Global Family Care; Vice President, U.S. Operations
and North America Marketing, Procter & Gamble’s biggest region;
and Vice President, North America Baby Care. Mr. Perry currently
serves as a board member of The J.M. Smucker Company and
Chick-Fil-A, Inc., a privately owned restaurant company. He
previously served as a director of e.l.f. Beauty and Hillerich
& Bradsby Co. (Louisville Slugger), a privately owned sporting
goods manufacturer. He has a B.B.A. from the University of
Cincinnati.
About Kenvue Kenvue is the world’s largest pure-play
consumer health company by revenue. Built on more than a century of
heritage, our iconic brands, including Aveeno®, BAND-AID® Brand,
Johnson’s®, Listerine®, Neutrogena® and Tylenol®, are
science-backed and recommended by healthcare professionals around
the world. At Kenvue, we believe in the extraordinary power of
everyday care and our teams work every day to put that power in
consumers’ hands and earn a place in their hearts and homes. Learn
more at www.kenvue.com.
Cautions Concerning Forward-Looking Statements This press
release contains “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995 regarding, among
other things, changes to the Board of Directors. Forward-looking
statements may be identified by the use of words such as “plans,”
“expects,” “will,” “anticipates,” “estimates” and other words of
similar meaning. Readers are cautioned not to rely on these
forward-looking statements, which are based on current expectations
of future events. A list and descriptions of risks, uncertainties
and other factors can be found in Kenvue’s filings with the
Securities and Exchange Commission, including its Annual Report on
Form 10-K for the fiscal year ended December 31, 2023, subsequent
Quarterly Reports on Form 10-Q and other filings, available at
www.kenvue.com or on request from Kenvue. Kenvue and its affiliates
undertake no obligation to update any forward-looking statements,
whether as a result of new information, future events or
developments or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240731940692/en/
Investor Relations: Jim Giannakouros, CFA
Kenvue_IR@kenvue.com
Media Relations: Melissa Witt media@kenvue.com
Kenvue (NYSE:KVUE)
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