Band-Aid and Tylenol maker Kenvue has fired its CEO Thibaut Mongon, the consumer health company said on Monday, laying what some investors expect will be the groundwork for an eventual sale of the entire company or pieces of it.

The Johnson & Johnson spinoff that makes Tylenol and Benadryl, said Chief Executive Thibaut Mongon has departed and that the company is considering simplifying its portfolio amid a recent sales slump.

Perry is a current Kenvue director and seasoned consumer products and brand strategist with more than 30 years of experience. Of his appointment, Larry Merlo, Kenvue’s chair of