Kenvue says ‘committed’ to acting in best interests of company, shareholders

Kenvue (KVUE) issued the following statement in response to Starboard Value’s submission of four nominees to stand for election to the Kenvue Board of Directors at Kenvue’s 2025 Annual Meeting of Shareholders: “The Kenvue Board and management team are committed to acting in the best interests of Kenvue and our shareholders. We engage regularly with our shareholders and are open to constructive dialogue with and suggestions from Kenvue shareholders. We note that members of Kenvue’s Board of Directors and management team have held several discussions with Starboard. We are working across our business to unleash the full potential of Kenvue’s portfolio, powered by increased marketing investments driven by our cost savings and productivity initiatives. Kenvue is a global leader in consumer health with strong brands, capabilities and teams that we believe will enable us to drive sustainable profitable growth and enhance shareholder value. Kenvue’s Board recognizes the importance of ensuring the right combination of skills and experience, as well as independent director oversight, and regularly evaluates its composition. We recently appointed two new independent directors with the resignation of two Johnson & Johnson executives from the Board. Kenvue’s Board today is composed of 11 highly qualified directors who have held executive leadership roles and board positions, including at world-class consumer, retail and healthcare companies. Each director brings expertise in areas that are highly relevant to the execution of the Company’s strategic priorities, including strategy, brand-building and marketing, e-commerce, corporate finance, and business development. Kenvue’s Board has been reviewing Starboard’s proposed director candidates and will present its formal recommendation in due course.”