Kenvue’s ‘Our Vue Forward’ Plan Leans Into IT Upgrades
As Kenvue continues to reinvent itself as a standalone company, leaders shared more details about a newly launched "Our Vue Forward" efficiency initiative.
Kenvue, which includes such brands as Tylenol, Neutrogena, Motrin, and Listerine in its portfolio, officially separated from Johnson & Johnson to become an independent company in August 2023 after a nearly two-year process.
In completing various transition service agreements (TSAs) with Johnson & Johnson, the CPG intends to simplify the organization, while bolstering automation and implementing new technologies.
One large bucket of the expected $275 million program costs will be allocated to upgrading their IT infrastructure for faster and better decision making to become more competitive with their peers, said CFO Paul Ruh in an earnings call this week.
It will also be allocated to streamlining operations, which includes a 4% net global workforce reduction. The company wants teams co-located for better collaboration, and is relocating its Los Angeles office to New Jersey.
As part of this, the company recently broke ground last month at its new headquarters site in Summit, N.J. The 290,000-square-foot HQ, which is expected to open in 2025, will include a 100,000-square-foot science and innovation lab.
Exiting the TSA agreements with Johnson & Johnson will be an opportunity to reinvent their ways of working to become more nimble, agile, and closer to the consumer, said Kenvue CEO Thibaut Mongon on the call with investors.
In addition to taking steps to better leverage their procurement partnerships, Kenvue is also recruiting for a new global segment leader in skin health and beauty to be located in the U.S.
