Johnson & Johnson has named its consumer business Kenvue as it is moving ahead with its plans to spin-off the unit in what would be the biggest shake-up in the healthcare conglomerate's 135-year history.
The unit has faced nearly 40,000 lawsuits alleging its baby powder and other talc products contained asbestos later linked to mesothelioma and ovarian cancer in women who used it for personal hygiene, which the company has denied.
The business also houses Band-Aid bandages and Tylenol medicines and generated revenue of $14.6 billion in 2021.
Kenvue is a combination of 'ken', an English word for knowledge primarily used in Scotland, and 'vue' a reference to sight.
'A Defining Moment'
“Unveiling the Kenvue brand is a defining moment for our stakeholders and an important part of the planned separation,” said Thibaut Mongon, CEO Designate, Kenvue, the planned New Consumer Health Company.
“We breathe life into some of the world’s most iconic and beloved brands every day, so we harnessed that same expertise, love, and energy into developing our new corporate identity.”
Usage of the new company logo and corporate brand identity will be effective upon completion of the planned separation, which Johnson & Johnson last year said will be completed by November 2023.
Joaquin Duato, chief executive officer of Johnson & Johnson added, “Kenvue is poised to thrive as a standalone company with a leading portfolio of brands consumers love and trust. I’m confident in this team and excited to see what the future holds.”
News by Reuters, additional reporting by ESM – your source for the latest A-brands news. Click subscribe to sign up to ESM: European Supermarket Magazine.
