{
  "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",
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  "pageNumber": 44,
  "pageCount": 71,
  "prevPage": 43,
  "nextPage": 45,
  "slideType": "peer_gap",
  "function": "expose_gap",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "The slide uses a dashed line to represent market growth, visually isolating Kenvue's underperformance.",
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  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de077-4afb-71c3-9c30-47bdfd22c0dd/44",
  "deckHref": "/decks/019de077-4afb-71c3-9c30-47bdfd22c0dd",
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      "kind": "callout",
      "text": "SH&B has lost market share",
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      "kind": "chart",
      "text": "Bar chart showing growth rates for OR Ex. PP (8.2%), BEI Consumer (6.0%), KVUE SHB (0.5%), and EL Skincare (0.0%)",
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      "kind": "source-note",
      "text": "Source: Public company filings and Wall Street research. (1) Represents market growth rates for Face / Body Care and Hair, Sun, and Other categories, weighted based upon Kenvue's sales mix.",
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      "kind": "title",
      "text": "Industry growth is not the issue with Skin Health and Beauty.",
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      "kind": "title",
      "text": "Notably, Skin Health and Beauty’s Lackluster Growth Is a Kenvue Specific Issue as Its Peers Have Grown Nicely",
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      "kind": "title",
      "text": "CY2019 to CY2023 Organic Growth: SH&B vs. Peers",
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  "metrics": [],
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  "frameworks": [
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      "name": "comparison_frame",
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      "matchId": "af186148-d212-44a1-8fc4-6fbd30cb03df",
      "evidence": "Direct comparison of organic growth rates between Kenvue and industry peers to isolate performance issues.",
      "confidence": 0.9
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  "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"
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