Kenvue Inc.

31/07/2024 | Press release | Distributed by Public on 31/07/2024 17:46

Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Departure of Peter M. Fasolo and Joseph J. Wolk from the Board of Directors
On July 30, 2024, Peter M. Fasolo, Ph.D., and Joseph J. Wolk each informed Kenvue Inc. (the "Company") and its Board of Directors (the "Board") of their decision to resign from the Board, effective as of December 1, 2024.
(d) Appointment of Kathleen M. Pawlus and Kirk L. Perry to the Board of Directors
On July 30, 2024, the Board determined to (i) increase the size of the Board from eleven members to twelve members, effective as of August 15, 2024, (ii) decrease the size of the Board from twelve to eleven directors, effective immediately after the resignations of Messrs. Fasolo and Wolk on December 1, 2024 and (iii) appoint two new directors to the Board:
•Ms. Kathleen M. Pawlus, age 64, was appointed a member of the Board to serve as a director effective August 15, 2024, with a term expiring at the Company's 2025 Annual Meeting of Shareholders (the "2025 Annual Meeting"). Ms. Pawlus will serve on the Board's Audit Committee.
•Mr. Kirk L. Perry, age 57, was appointed a member of the Board to serve as a director effective immediately after the resignations of Messrs. Fasolo and Wolk on December 1, 2024, with a term expiring at the 2025 Annual Meeting. Mr. Perry will serve on the Board's Compensation & Human Capital Committee.
Ms. Pawlus previously served as partner of Ernst and Young, LLP ("EY"), and as Chief Financial Officer and Chief Operating Officer of EY's Global Assurance group, which is one of the largest of EY's four service lines and includes its Audit Practice, Fraud, Investigation and Dispute Services Practice, Climate Change and Sustainability Services Practice and its Financial Accounting Advisory Services Practice. Prior to her role as Chief Financial Officer and Chief Operating Officer of EY's Global Assurance group, she served as EY's Americas Chief Financial Officer, Global PBFA Function Leader and U.S. Firm Chief Financial Officer responsible for finance, IT operations, treasury, purchasing and facilities. Ms. Pawlus served on EY's U.S. Executive Board from 2006 to 2012. She currently serves as a board member of AMC Entertainment Holdings, Inc. Ms. Pawlus has a B.S. from Indiana University and is a Certified Public Accountant.
Mr. Perry currently serves as President and Chief Executive Officer and a member of the board of directors of Circana, Inc. ("Circana"), a global provider of technology, data, and predictive analytics for the consumer, retail and media sectors. Prior to joining Circana, Mr. Perry served as President, Global Client and Agency Solutions at Google, Inc. ("Google"). Before Google, Mr. Perry spent 23 years with Procter & Gamble Co. ("P&G"), where he held several positions of increasing responsibility in general management and marketing roles, including President of Global Family Care; Vice President, U.S. Operations and North America Marketing, P&G's biggest region; and Vice President, North America Baby Care. Mr. Perry currently serves as a board member of The J.M. Smucker Company, and Chick-Fil-A, Inc., a privately owned restaurant company. He previously served as a director of e.l.f. Beauty and Hillerich & Bradsby Co. (Louisville Slugger), a privately owned sporting goods manufacturer. He has a B.B.A. from the University of Cincinnati.
There is no arrangement or understanding between either Ms. Pawlus or Mr. Perry and any other persons pursuant to which they were selected as directors.
Ms. Pawlus and Mr. Perry will receive the annual cash and equity compensation received by each of the Company's non-employee directors, as described in the Company's proxy statement dated as of April 10, 2024.
There have been no transactions since the beginning of the Company's last fiscal year, and there are no currently proposed transactions, in which the Company was or is to be a participant and in which Ms. Pawlus or Mr. Perry, or any member of their immediate family had or will have any interest, that are required to be reported under Item 404(a) of Regulation S-K.