SKILLMAN, N.J-- August 24, 2023 -- Kenvue Inc. (NYSE: KVUE) (“Kenvue”) today announced its separation from Johnson & Johnson, marking its first day as a fully independent company.

“This is a historic moment for Kenvue and with a singular focus on delivering innovative care solutions to customers and consumers around the world, we’re excited to write the next chapter of consumer health,” said Thibaut Mongon, Kenvue’s Chief Executive Officer and Director. “Thank you to our passionate teams who have prepared us for this significant milestone and welcome to our new shareholders. As the home to some of the world's most beloved brands, we step into the future as a fully independent company from a position of strength and look forward to all that we will continue to achieve as a global leader in consumer health.”

As separately announced today, Johnson & Johnson accepted an aggregate of 190,955,436 shares of Johnson & Johnson common stock in exchange for 1,533,830,450 shares of Kenvue common stock. As a result, Johnson & Johnson now owns 9.5% of the outstanding shares of Kenvue common stock. The exchange offer was 4.2x subscribed.

Full details of the results are available in a separate press release issued this morning by Johnson & Johnson.

Kenvue expects to also become the newest member of the S&P 500®. S&P Dow Jones Indices announced its intent to add Kenvue to the S&P 500 index effective prior to the opening of trading on August 25, 2023.