Consumer
Activist Starboard Holds Kenvue Stake and Seeks Changes, WSJ Reports
- Shares have underperformed since going public in 2023
- Neutrogena losing market share to CeraVe, Hero skin care lines
Kenvue brands include Aveeno, Band-Aid, Zyrtec, Neosporin and Neutrogena.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Shares of consumer-products company Kenvue Inc. rose the most in more than two months after activist investor Starboard Value took a stake in the Tylenol maker with an eye toward making changes to boost the company’s stock price.
Starboard hasn’t disclosed its stake in Kenvue — spun out of Johnson & Johnson last year — or what issues it aims to tackle, but a person familiar with the matter described it as “sizable.”