Kenvue expands board with three new appointments

USA – Kenvue, an American consumer health company that offers personal care and health and wellness products, has appointed three new members to its board of directors: Sarah Hofstetter, Erica Mann, and Jeffrey Smith. 

The appointments are effective immediately.

Ms. Hofstetter will join the Audit Committee, Ms. Mann will serve on the Nominating, Governance, and Sustainability Committee, and Mr. Smith will be a Compensation and Human Capital Committee member. 

According to Kenvue, the Board will temporarily expand from 11 to 14 directors and then be reduced to 13 at the 2025 Annual Meeting of Shareholders. 

Larry Merlo, Chair of Kenvue’s Board, stated, “We are pleased to welcome Sarah, Erica and Jeff as new directors on Kenvue’s Board,” 

“Sarah’s brand-building and digital marketing expertise, Erica’s global consumer health industry experience, and Jeff’s investor perspective and extensive service on corporate boards will further strengthen the Board with complementary, value-added skills. 

Before joining the company, Sarah Hofstetter was the President of Profitero, Ltd., Erica Mann was the former President and Head of Bayer’s Consumer Health Division, and Jeffrey Smith served as the Managing Member, CEO, and CIO of Starboard Value LP.

The company recently reported its financial results for the fourth fiscal quarter, which ended December 29, 2024.

It reported a 0.1% net sales decrease.

According to Kenvue, the favorable value realisation across all segments was achieved through a combination of pricing from 2023 and new pricing actions taken in 2024.

However, the overall volume declined due to decreases in the skin health, beauty, and self-care segments, which offset the slight volume growth observed in Essential Health.

Net sales declined by 0.1%, reflecting Organic sales1 growth of 1.7%  offset by the impact of foreign currency fluctuations.

The gross profit margin increased by 80 basis points, rising to 56.5% from 55.7% in the same period last year.

This expansion was driven by decreased separation-related costs and the amortization of intangible assets year-over-year.

Net sales are projected to vary between a decrease of 1% and an increase of 1% year-over-year. 

Kenvue anticipates adjusted diluted earnings per share growth to be in the range of flat to +2% year-over-year.

The company expects an improvement in its adjusted operating income margin on a year-over-year basis.

Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.