NEW YORK, Aug. 21, 2023 /PRNewswire/ -- Kenvue Inc. (NYSE: KVUE) will replace Advance Auto Parts Inc. (NYSE: AAP) in the S&P 500, and Advance Auto Parts will replace Emergent BioSolutions Inc. (NYSE: EBS) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, August 25. As previously announced on August 9, the addition of Kenvue is the result of S&P 500 and S&P 100 constituent Johnson & Johnson (NYSE: JNJ) offering to exchange the shares of Kenvue held for shares of Johnson & Johnson in a split-off exchange offer that expired on Friday, August 18. Advance Auto Parts is more representative of the small-cap market space, and Emergent BioSolutions is no longer representative of the small-cap market space.
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