Kenvue settles proxy fight with activist Starboard, sources tell CNBC

Group 1 - Kenvue has settled its proxy fight with activist investor Starboard Value, with Starboard's Jeff Smith joining the board along with two new independent directors [1] - Kenvue is known for its well-known brands such as Aveeno, Band-Aid, Listerine, Neutrogena, Tylenol, and Johnson & Johnson's baby powder and shampoo [2] - Johnson & Johnson completed its separation from Kenvue in August 2023 but still retains a stake in the consumer goods company [2] Group 2 - Starboard Value has amassed a significant stake in Kenvue and has expressed disappointment in the company's management and share-price performance [2]