Avon Chairwoman to Step Down |
| New York Times - Oct 5, 2012 |
Andrea Jung, the longtime chief executive of Avon Products, announced on Friday that she would step down as the company’s executive chairwoman.
The announcement was somewhat of a surprise because Ms. Jung, who was pushed out as chief executive last December, was expected to remain in her chairwoman post for at least two years. She will resign the job by the end of the year, becoming a senior adviser to the company.
“My decision reflects the successful transition to new leadership,” Ms. Jung said in prepared remarks. “It has been a great privilege to serve the company over the past two decades, most notably the millions of Avon representatives and thousands of associates around the world.”
The announcement was welcomed by several analysts, who said that it opened the way for Ms. Jung’s successor as chief executive, Sherilyn McCoy, to remake the company, which has been battered by lackluster sales, operational snafus and a continuing bribery inquiry.
Read Full Article from New York Times
- Posted: 2012-10-05 13:12:14
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