Jan Meurer
About Jan Meurer
Jan Meurer is Group President, North America at Kenvue (KVUE), serving on the Kenvue Leadership Team since May 2023 and appointed Group President in January 2024 after serving as Chief Growth Officer from May 2023. He previously held senior roles at Johnson & Johnson’s Consumer Health (Global Head of Strategy; President, Southeast Asia; Area Managing Director, Central Europe) and earlier at Procter & Gamble, PGT Healthcare, and Siemens Technologies. He holds a Business Administration degree from the University of Passau (Germany) and studied in the U.S. as a Rotary Scholar; his age is disclosed as 52 in 2024 and 53 in 2025. Company performance during FY 2024 included Net sales +0.1% to $15.5B, Organic sales +1.5%, Adjusted operating income margin 21.5%, Net income $1.0B, Adjusted net income $2.2B, Free cash flow $1.3B; TSR is discussed as cumulative return since listing (May 4, 2023).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kenvue | Group President, North America | Jan 2024–present | Leads U.S. turnaround plan in Skin Health & Beauty; execution focus on in-store presence, consumer engagement, and innovation. |
| Kenvue | Chief Growth Officer | May 2023–Jan 2024 | Drove portfolio growth strategy and capabilities post-Separation. |
| Johnson & Johnson Consumer Health | Global Head of Strategy (Leadership Team member) | 2015–2023 (tenure at J&J) | Global strategy leadership across Consumer Health. |
| Johnson & Johnson Consumer Health | President, Southeast Asia | 2015–2023 (tenure at J&J) | Regional leadership and market execution. |
| Johnson & Johnson Consumer Health | Area Managing Director, Central Europe | 2015–2023 (tenure at J&J) | Regional portfolio and market management. |
| Procter & Gamble / PGT Healthcare / Siemens Technologies | Senior roles | Pre-2015 (prior to J&J) | Brand building and senior operating roles in consumer and healthcare. |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| US-ASEAN Business Council | Board member | Not disclosed | Industry advocacy and market access in ASEAN. |
| Global Self-Care Federation | Board member | Not disclosed | Global consumer self-care sector representation. |
| Association of the European Self-Care Industry (AESGP) | Board member | Not disclosed | European OTC/self-care policy engagement. |
| German Cosmetic, Toiletry, Perfumery and Detergent Association (IKW) | Board member | Not disclosed | German personal care industry collaboration. |
| German Brands Association | Board member | Not disclosed | Brand strategy and advocacy in Germany. |
Fixed Compensation
| Item | Policy / Amount | Notes |
|---|---|---|
| Executive stock ownership guidelines | 3x base salary for other executive officers | Shares counting include directly/indirectly owned and unvested RSUs; unvested PSUs and options do not count. |
| Retention to meet guidelines | Must retain 75% of after-tax shares from vesting until guideline met | Applies to executive officers; compliance status disclosed for NEOs as of Dec 29, 2024. |
| Perquisites cap | $25,000 annually for executive officers | CEO cap is $50,000; typical items include financial/tax planning, home/cybersecurity, executive physicals. |
| Deferred compensation | Excess Savings Plan available for senior U.S. employees | Restores company contributions above qualified plan limits; non-qualified deferred comp. |
Jan’s specific base salary and cash bonus amounts are not disclosed; Kenvue does not list him among 2024–2025 Named Executive Officers.
Performance Compensation
| Metric/Plan Component | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Annual Incentive: Company performance factor (Organic net sales, Adjusted gross margin, Adjusted net income, Free cash flow) | 70% | Set annually by CHCC; Not disclosed for Jan | 2024 company performance factor used in NEO awards: 53.5% | Annual cash; not subject to vesting |
| Annual Incentive: Individual performance factor | 30% | Set by CHCC per executive; Not disclosed for Jan | Not disclosed for Jan | Annual cash; not subject to vesting |
| Long-Term Incentive mix (2024 awards) | PSUs 50%; Options 30%; RSUs 20% | CHCC sets target values; Not disclosed for Jan | Not disclosed for Jan | RSUs/options vest 1/3 annually; PSUs vest after 3-year performance period (ending Dec 31, 2026) |
| PSU performance measures | Organic net sales CAGR; Adjusted diluted EPS CAGR; Relative TSR modifier | Targets set at grant; Not disclosed for Jan | Payout based on 3-year performance vs targets | PSUs cliff vest after 3 years, subject to performance and service |
Equity Ownership & Alignment
- Anti-hedging/anti-pledging: Executive officers are prohibited from pledging, hedging, short-selling, or transacting in derivatives linked to KVUE securities.
- Blackout periods and preclearance: Section 16 insiders must pre-clear trades; blackout runs two weeks before quarter-end until 24 hours after results release; special blackout periods may be imposed.
- Rule 10b5-1 trading plans: Require good-faith adoption when not in possession of MNPI, pre-approval, cooling-off period (90 days or two business days post-results, max 120 days), max plan length 12 months; Section 16 insiders cannot use a plan until ownership guidelines are met.
- Ownership guidelines: CEO 6x salary; other executive officers 3x salary; retention of 75% of after-tax shares until compliant.
Shares pledged as collateral are prohibited; no hedging permitted under company policy.
Employment Terms
| Provision | Term | Notes |
|---|---|---|
| Employment agreements | Limited; none for other executive officers (except Switzerland-specific for Lawson) | Indicates most EOs, including Group Presidents, are not under fixed-term employment contracts. |
| Clawback policies | NYSE-compliant Incentive Compensation Recovery; broader Misconduct Recoupment | Covers Section 16 officers; can recoup annual and long-term incentives over a defined period upon restatement or significant misconduct. |
| Non-compete/non-solicit | Equity awards subject to forfeiture/recoupment if executive violates non-compete/non-solicitation | Applies broadly to executive officers via award agreements. |
| Executive Severance Pay Plan (A&R, effective upon merger) | Other Executive Officers: 1.5x base + 1.5x target bonus (non-COC); 2.0x base + 2.0x target bonus (COC) | A&R plan adds pro rata target bonus to severance; non-U.S. participants expanded; plan cannot be amended adversely for two years post-merger closing. |
| Health coverage continuation | Company subsidizes health plan contributions during severance pay period, up to 52 weeks (COBRA) | Termination of subsidy if covered under another employer plan. |
Performance & Track Record
- Strategic execution: As North America leader, Meurer spearheaded a focused turnaround plan in Skin Health & Beauty, emphasizing in-store presence and prominence, elevated consumer/dermatologist engagement, and amplified innovation, with timing for impact weighted toward the back half of 2024 and beyond.
- FY 2024 company performance context: Net sales +0.1% to $15.5B; Organic sales +1.5%; Adjusted operating income margin 21.5%; Net income $1.0B; Adjusted net income $2.2B; Free cash flow $1.3B.
- Execution focus in 2025: Management reiterated laser-focus on stabilizing U.S. Skin Health in 2024 with growth from 2025 onwards; Meurer’s team is “laser-focused” on executing the plan.
- TSR framework: Pay-versus-performance analysis references TSR from KVUE’s NYSE listing (May 4, 2023) as the shareholder return measure.
Investment Implications
- Compensation alignment: Kenvue’s architecture ties annual pay 70% to corporate results and 30% to individual goals, with LTI split across PSUs (CAGR revenue/EPS) and market-relative TSR modifier—strong alignment with profitable growth and cash generation.
- Retention risk: The A&R Executive Severance Plan offers meaningful protection (1.5x–2.0x salary+bonus for Other EOs) and includes a two-year non-adverse amendment covenant post-merger, supporting orderly succession and retention through potential change-of-control.
- Insider selling pressure: Strict anti-hedging/pledging prohibitions, blackout/preclearance requirements, and inability to use 10b5-1 plans until ownership guidelines are met, plus 75% retention of after-tax vested shares until compliance, reduce near-term selling pressure.
- Execution risk: U.S. Skin Health & Beauty recovery remains a key lever; management commentary attributes improvement to precision execution and capability build—investors should monitor category trends and measurable share/velocity gains to validate plan efficacy.
- Disclosure gap: Jan Meurer is not a Named Executive Officer in recent proxies; specific salary/bonus/equity grant values and ownership amounts are not disclosed, limiting precision in individual pay-for-performance benchmarking; rely on company-level frameworks and policies.