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Kenvue 2023

#Spin-Off #Strategic Decision-Making #Financial Analysis


アブストラクト

In May 2023, Kenvue emerged as a major industry player following its positive IPO on the NYSE, marking one of the decade's largest initial public offerings. This promising future was initially set into motion in November 2021, when Johnson & Johnson (J&J) announced its decision to separate, inspired by GSK's successful spin-off of Haleon into a new consumer health entity. Now, with the spin-off finally complete, Kenvue stands as a shining testament to the optimistic view of investors, taking center stage in the industry landscape. J&J consumer health division showed strong resilience during many crisis and the Consumer Health Industry shows promising growth opportunities. However, as of now, it is on its own, as Kenvue, with an independent identity, set of values, strategy, and growth ambitions. The spin-off gave hope for Kenvuers to manage their own future, R&D budget, and financial investments, but it also comes with a set of important risks including Baby Powder litigation, investor pressure, financial performance challenges, and most importantly J&J is still controlling more than 90% of Kenvue. Thibaut Mongon, an experienced veteran of J&J, is now taking the lead and the responsibility to redefine a new strategy for the newborn Consumer Health Global player as CEO. With his leadership team and 22,000 Kenvuers, he may have to find answers to this question: What strategic decisions should Kenvue adopt as a post-spin-off venture to enhance its financial performance, increase the stakeholder benefits, and mitigate the risks? Answering this question requires diving deep into the history of J&J, the performance of Kenvue during the last 4 years, its capabilities, and financial metrics. Finally, it also implies looking into the implications of the spin-off: risks and potential benefits.

詳細情報

ケースID 23-1091
登録 2023
業界 その他
分析領域 総合経営
ページ数 29
言語 English
ティーチングノート あり