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.

All that culminated on Monday with the abrupt resignation of Kenvue CEO Thibaut Mongon, his replacement by board director Kirk Perry on an interim basis, and the confirmation that Kenvue is undertaking a strategic review in the hopes of “optimizing” a sprawling portfolio and boosting profitability.

American consumer health company Kenvue's Board of Directors announced new actions to unlock shareholder value and an interim CEO on Monday.