Kenvue Appoints Amit Banati as New CFO

Kenvue Inc., the parent company of Neutrogena, announced on Friday that Amit Banati will assume the role of chief financial officer, effective May 12.

Banati will replace Paul Ruh, who will stay on briefly to ensure a smooth transition within the U.S.-based firm.

Responsibilities and Experience

As CFO, Banati will oversee Kenvue’s finance and strategy divisions, aiming to drive profitable growth and enhance shareholder value.

With three decades of experience in finance and operations within the consumer products industry, Banati previously served as vice chairman and CFO at Kellanova (formerly Kellogg Company). His career also includes leadership roles at Kraft Foods (now Mondelez International), Cadbury Schweppes, and Procter & Gamble.

Career Highlights

• At Kraft Foods, Banati was president for North Asia and Asia Pacific strategy, managing the Cadbury-Kraft integration in the region.
• During his tenure at Cadbury Schweppes, he was president of the Pacific region, responsible for Australia, New Zealand, Japan, and Singapore, and also served as CFO of the Asia Pacific division.
• At Procter & Gamble, Banati held various finance positions over nearly 15 years, eventually becoming CFO for the ASEAN, Australia, India, and Singapore region within the Health and Beauty Care division.

Leadership Perspective

Thibaut Mongon, CEO of Kenvue, expressed enthusiasm about Banati’s appointment, highlighting his extensive industry knowledge and proven record in business transformation. Mongon emphasized that with Kenvue now firmly established as an independent entity, the timing is ideal for a CFO transition.

“Amit is an exceptional executive with a solid track record in both financial and operational leadership, making him the perfect fit to guide our Finance and Strategy teams as we accelerate growth and adapt to new ways of working,” Mongon stated.

Company Performance

In 2024, Kenvue, headquartered in New Jersey, reported steady sales of $15.5 billion for the year ending December 29, reflecting softer-than-anticipated growth.