Luani Alvarado
About Luani Alvarado
Luani Alvarado is Chief People Officer at Kenvue (KVUE), serving on the Kenvue Leadership Team since May 2023; she is 59 years old and previously spent ~18 years in senior HR roles at Johnson & Johnson and earlier HR roles at Bristol‑Myers Squibb and Dow Chemical . Her academic credentials include a graduate degree in Human Resources & Strategic Management (Organizational Development & Change) and a B.S. in Business Administration from Catholic University of Santos, São Paulo, Brazil . Company performance context in her tenure: FY2024 net sales were $15.5B (0.1% YoY; organic +1.5%), adjusted gross margin 60.4%, adjusted operating margin 21.5%, and adjusted diluted EPS $1.14; cumulative TSR increased between 2023 and 2024, reflecting alignment with S&P 500 Consumer Staples sector TSR .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kenvue | Chief People Officer; Kenvue Leadership Team | May 2023–present | Leads global human capital strategy for a ~22,000‑employee consumer health company; Board oversight via CHCC on succession and HCM |
| Johnson & Johnson | Global Leader, HR – Consumer Health; HR Executive Committee | Joined 2005 | Drove HR leadership across Consumer Health; member of Consumer Health Leadership Team |
| Johnson & Johnson | Global Head of HR – External Innovation; Medical Devices; Orthopaedics; Chief Talent Officer; Ethicon | (within 2005–J&J tenure) | Led global HR for innovation and multiple business units; enterprise talent strategy |
| Bristol‑Myers Squibb; Dow Chemical | HR roles | (prior to J&J) | Foundational HR experience in large, regulated industries |
External Roles
No external board or public company directorships disclosed for Alvarado in Kenvue’s 2024–2025 proxy statements .
Fixed Compensation
| Element | Structure | Notes |
|---|---|---|
| Base Salary | Set and reviewed by the Compensation & Human Capital Committee (CHCC) | CHCC oversees CEO and executive officer compensation; pay programs benchmarked to a 17‑company peer group |
| Annual Incentive | Cash bonus; 70% company performance + 30% individual performance | Company performance metrics: Organic net sales, Adjusted gross profit margin, Adjusted net income, Free cash flow |
| Benefits & Perquisites | Standard employee benefits with capped executive perquisites | Executive Officer Perquisite Policy caps at $25,000 annually ($50,000 for CEO); examples include financial/tax planning, home security/cybersecurity, executive physicals |
As Alvarado was not a named executive officer (NEO) for 2024–2025, specific salary/bonus amounts are not itemized in Kenvue’s proxy tables; policies and plan designs apply to executive officers generally .
Performance Compensation
| Component | Metric | Weighting | Target Basis | Payout/Modifier | Vesting |
|---|---|---|---|---|---|
| Annual Incentive | Organic net sales | Part of 70% company factor | Company goals set annually | Incorporated in Kenvue Performance Factor | Paid after year end |
| Annual Incentive | Adjusted gross profit margin | Part of 70% company factor | Company goals set annually | Incorporated in Kenvue Performance Factor | Paid after year end |
| Annual Incentive | Adjusted net income | Part of 70% company factor | Company goals set annually | Incorporated in Kenvue Performance Factor | Paid after year end |
| Annual Incentive | Free cash flow | Part of 70% company factor | Company goals set annually | Incorporated in Kenvue Performance Factor | Paid after year end |
| Annual Incentive | Individual performance | 30% | Role‑specific goals | CHCC approves individual factors | Paid after year end |
| PSUs (Annual LTI) | Organic net sales CAGR | PSU core | Three‑year performance period | Payout 0–200%; modified by Relative TSR | Cliff vest after 3 years |
| PSUs (Annual LTI) | Adjusted diluted EPS CAGR | PSU core | Three‑year performance period | Payout 0–200%; modified by Relative TSR | Cliff vest after 3 years |
| PSUs (Modifier) | Relative TSR vs Performance Peer Group | Modifier | Percentile vs peers | <25th: 0.75x; 25th–75th: 1.0x; >75th: 1.25x | Applies at certification |
| RSUs (Annual LTI) | Time‑based | 20% of LTI | N/A | N/A | Equal tranches on 1st/2nd/3rd anniversaries |
| Options (Annual LTI) | Time‑based | 30% of LTI | N/A | N/A | Equal tranches on 1st/2nd/3rd anniversaries |
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Company outcome reference: For FY2024 the Kenvue Performance Factor (company portion for annual incentives) was 53.5% based on metric achievements (above‑target adjusted gross margin; below thresholds for organic net sales and free cash flow) .
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Grant timing: Annual LTI grants generally occur in March for executive officers .
Equity Ownership & Alignment
| Policy/Disclosure | Details |
|---|---|
| Executive stock ownership guidelines | CEO: 6× base salary; other executive officers: 3× base salary; if not yet met, must retain 75% of after‑tax shares from vesting until compliant |
| Anti‑hedging/pledging | Directors and executive officers are prohibited from hedging, pledging, short‑selling, or transacting in derivatives linked to KVUE stock |
| Beneficial ownership reporting | Proxy tables disclose directors and NEOs; Alvarado (not an NEO) is not individually itemized; group totals provided |
No Form 3/4 filings for Alvarado were found in 2025 filings we searched, and no pledging/hedging is permitted by policy .
Employment Terms
| Area | Terms/Notes |
|---|---|
| Employment start/date | Kenvue Chief People Officer since May 2023 |
| Severance plan coverage | U.S.‑based executive officers covered by Amended & Restated Executive Severance Pay Plan; adds pro‑rata target bonus on qualifying termination; plan protections for two years post‑closing of the Kimberly‑Clark transaction; funding from general assets |
| Change‑of‑control | Equity award agreements include treatment provisions; PSUs/RSUs vesting subject to plan terms; company imposed grant‑date timing restrictions around MNPI |
| Clawbacks | Two recoupment policies: (i) NYSE‑compliant restatement clawback for Section 16 officers; (ii) broader misconduct policy covering ~1,400 roles over a three‑year lookback |
| Non‑compete/non‑solicit | Company requires Restrictive Covenant Agreement (secrecy, IP, non‑compete, non‑solicit) as part of employment/onboarding |
Performance Context (Company)
Annual metrics:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD Billions) | 15.444 | 15.455 |
| EBITDA ($USD Billions) | 3.570* | 3.565* |
Quarterly metrics (oldest → newest):
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues ($USD Billions) | 3.662 | 3.741 | 3.839 | 3.764 |
| EBITDA ($USD Billions) | 1.008* | 0.761* | 0.902* | 0.867* |
Values marked with * were retrieved from S&P Global.
Compensation Peer Group & Say‑on‑Pay
- Compensation peer group (17 companies): Campbell’s, Church & Dwight, Clorox, Coca‑Cola, Colgate‑Palmolive, Conagra, Estée Lauder, General Mills, Hershey, Hormel, J.M. Smucker, Kellanova, Keurig Dr Pepper, Kimberly‑Clark, Kraft Heinz, Mondelēz, Perrigo; Performance peer group adds 13 (e.g., Haleon, P&G, Unilever, Reckitt) .
- Say‑on‑pay: 97% of votes cast supported NEO compensation at the 2024 Annual Meeting; company intends annual say‑on‑pay votes .
Investment Implications
- Alignment: Executive pay design emphasizes multi‑year PSUs tied to organic growth and EPS with TSR modifiers, plus strict anti‑hedging/pledging and meaningful ownership guidelines (3× salary for EOs), supporting long‑term alignment and reducing hedging/pledging risk .
- Retention/continuity: Executive severance plan with pro‑rata bonus on qualifying termination and two‑year protection post‑transaction enhances retention during strategic transitions; clawbacks strengthen governance and risk controls .
- Visibility limits: As a non‑NEO, Alvarado’s individual cash/stock award amounts, vesting schedules and holdings are not disclosed, limiting direct pay‑for‑performance and ownership analysis; policy framework and company outcomes (Kenvue Performance Factor 53.5% for FY2024) provide indirect signals .
- Execution risk: FY2024 top‑line softness offset by margin/productivity; PSU CAGRs and TSR modifiers will hinge on sustained organic growth and EPS improvements; human capital leadership stability is a lever for execution of cost, productivity and talent initiatives disclosed by the Board and CHCC .