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Kenvue Settles Proxy Fight With Activist Starboard

The company appointed three new directors to its board, including Starboard Value CEO Jeffrey Smith, as part of an agreement to resolve a months-long dispute over the company’s performance in the skincare and beauty segment.
A headshot of Hailee Steinfeld.
Kenvue’s shares fell nearly 2 percent to $23 in late-morning trade. (Neutrogena)

Consumer health company Kenvue said on Wednesday it had appointed three new directors to its board as part of an agreement with activist investor Starboard Value.

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