Kenvue management check
KVUE · Consumer Staples · Personal Care Products · CEO Thibaut Mongon
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2023 grew to $70, against $117 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 3 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.96 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.7% of net income$10.9m of reported pay in fiscal 2025, against $1.5bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $747k sold in six months.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +2.0% a year over the last three fiscal years. Stock-based pay was 0.9% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Thibaut Mongon, Kirk Perry. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2022.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 31 | |
| Pay for performance | 98 | 84 | |
| CEO cost | 61 | 40 | |
| Skin in the game | — | — | 65 |
| Dilution | 25 | 60 | |
| Stable leadership | 40 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Personal Care Products, by management score. Kenvue is 25th of 33 in its sector.
- 367KDPKeurig Dr Pepper57
- 393KVUEKenvue54
- 415PGProcter & Gamble51
- 421HRLHormel Foods50
- 451ADMArcher Daniels Midland46
- 468ELEstée Lauder Companies (The)41
Pay versus performance
From the proxy statement filed April 8, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Thibaut Mongon, Kirk Perry | $10.9m | $5.4m | $5.9m | $70 | $117 | $1.5bn |
| 2024 | Thibaut Mongon | $13.2m | $16.1m | $4.2m | $85 | $113 | $1.0bn |
| 2023 | Thibaut Mongon | $19.7m | $17.0m | $5.8m | $82 | $97 | $1.7bn |
The board says pay is tied most to Organic net sales. Its other key measures: Adjusted net income, Adjusted diluted earnings per share, Adjusted gross profit margin, Free cash flow, Relative total shareholder return.
Insiders and the CEO's stake
Light activity: no buys, $747k sold in six months.
- SoldMatthew OrlandoGeneral Counsel$680kMay 8, 2026
- SoldHeather HowlettCFO & CAO$67kJun 10, 2026
Leadership and governance on file
- Apr 15, 2026Leadership change8-K 5.02
- Feb 12, 2026Leadership change8-K 5.02
- Nov 3, 2025Leadership change8-K 5.02
- Jul 14, 2025Leadership change8-K 5.02
- Jun 24, 2025Leadership change8-K 5.02
- May 8, 2025Leadership change8-K 5.02
- Mar 5, 2025Leadership change8-K 5.02
- Jul 31, 2024Leadership change8-K 5.02
- Dec 5, 2023Leadership change8-K 5.02
- May 8, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 22, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $4.3bn returned to owners in buybacks and dividends, 52% of net income, and $856.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $15.1bn | $14.9bn | $15.4bn | $15.5bn | $15.1bn |
| Net income | $2.1bn | $2.1bn | $1.7bn | $1.0bn | $1.5bn |
| Stock-based pay | $141.0m | $137.0m | $188.0m | $254.0m | $136.0m |
| Buybacks | — | $0 | $7.0m | $235.0m | $197.0m |
| Dividends | $0 | $0 | $766.0m | $1.6bn | $1.6bn |
| Diluted shares | 1716m | 1716m | 1850m | 1923m | 1924m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.