{
  "docId": "019de077-4afb-71c3-9c30-47bdfd22c0dd",
  "docSlug": "33891c625660bf65301187bedd1a6954",
  "documentTitle": "Starboard Value | Activist Presentation Deck | 71 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 43,
  "pageCount": 71,
  "prevPage": 42,
  "nextPage": 44,
  "slideType": "before_after",
  "function": "expose_gap",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "Uses a bar chart with horizontal reference lines to illustrate the drag effect of a specific business unit.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de077-4afb-71c3-9c30-47bdfd22c0dd/43",
  "deckHref": "/decks/019de077-4afb-71c3-9c30-47bdfd22c0dd",
  "deckJsonHref": "/decks/019de077-4afb-71c3-9c30-47bdfd22c0dd.json",
  "deckAnchorHref": "/decks/019de077-4afb-71c3-9c30-47bdfd22c0dd#slide-43",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.28,
        "x": 0.58,
        "y": 0.26
      },
      "kind": "callout",
      "text": "... But Kenvue would have outperformed the market if not dragged down by Skin Health and Beauty",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "294a0f9f-e90b-42d2-b9fb-68dc17265591",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.25,
        "x": 0.16,
        "y": 0.36
      },
      "kind": "callout",
      "text": "On a consolidated basis, Kenvue underperformed market growth...",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c73b9f85-3c6c-43a1-8555-948126730366",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.7,
        "x": 0.15,
        "y": 0.55
      },
      "kind": "chart",
      "text": "Comparison of Consolidated Kenvue (3.7%) vs Consolidated Excl. Skin Health and Beauty (5.1%)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0736c4b9-f102-46bd-949f-3b1c34f3ff19",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.38,
        "y": 0.5
      },
      "kind": "legend",
      "text": "Consolidated Market Growth: 4.0% (blue dashed line); Market Growth Ex. SH&B: 3.9% (green dashed line)",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "389c759d-8515-41ae-90a9-854d727b47a8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.01,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Public company filings and Wall Street research.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cd9870c2-20e5-476b-96e4-c2aa1155f710",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "Importantly, Skin Health and Beauty Growth Has Weighed on Kenvue’s Consolidated Organic Growth",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "87926bf8-ecf7-473d-b5f4-54dc3cfbbcf6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "6d6dc008-8d7f-493f-b601-043fee8eef69",
      "evidence": "Compares current state (consolidated) with hypothetical improved state (excl. SH&B)",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 48,
      "from": 33,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "4e82214b-2394-4e86-ac47-89bd5fd01df5",
      "evidence": "The deck presents the costs of inaction for Kenvue's Skin Health and Beauty segment, including underperformance and lost growth opportunities.",
      "position": 1,
      "objective": "Highlight the costs of inaction for Kenvue's Skin Health and Beauty segment",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}