Starboard Value has taken a position in Kenvue, aiming to enhance revenue growth and margins in its underperforming Skin Health and Beauty segment. The activist investor advocates for a "marketing first" strategy, leveraging social media and celebrity partnerships to drive brand recognition and sales, as seen with Kenvue's recent Neutrogena Collagen Bank launch. Despite strong brand potential, Kenvue has struggled with organic growth, particularly in Skin Health and Beauty, which delivered only 1.8% growth compared to peers' 4.4%.
