Kenvue, maker of Band-Aid and Tylenol, has fired CEO Thibaut Mongon, sparking speculation of a potential sale. Interim CEO Kirk Perry, a Procter & Gamble veteran, has been appointed. Share prices rose after news of strategic review, following pressure from activist investors like Third Point and Toms Capital.

The company, spun off from Johnson & Johnson, faces pressure to boost profitability in its skin health and beauty unit. Analysts predict possible brand divestiture following leadership changes and ongoing strategic review. Kenvue is working with Centerview Partners and McKinsey to explore portfolio simplification and divestitures.

Former CFO Paul Ruh’s departure in May and Mongon’s ouster signal a period of change for Kenvue. The company expects to report second-quarter profits in line with analyst estimates, ahead of its August 7 results and 2025 forecast update. Investors await further developments as the company navigates potential sale discussions.

Read more at Yahoo Finance: Tylenol maker Kenvue ousts CEO amid board’s strategic review