Kenvue Appoints Three New Directors Following Agreement With Starboard

The appointments include Starboard CEO Jeffrey Smith and two independent directors, resolving a proxy dispute with the activist investor.

Kenvue, the consumer health company, has added three new members to its board of directors as part of a settlement with activist investor Starboard Value.
Jeffrey Smith, Starboard's CEO, has joined the board alongside Sarah Hofstetter, President of Profitero, and Erica Mann, former head of Bayer's Consumer Health Division.
The agreement resolves a proxy fight initiated by Starboard, which had previously nominated four candidates to the board.
Starboard had criticized Kenvue's management and performance, particularly within its skin health and beauty segment, which includes brands like Neutrogena and Aveeno.
As part of the settlement, Starboard has withdrawn its slate of board nominees, and the new appointments are effective immediately.