Market Overview

Avon Products Executive Chairman Will Step Down at End of Year

Related AVP
Benzinga's Top #PreMarket Losers
CNBC's Stock Pops & Drops From December 23
Avon Reaches Preliminary Bribery Probe Deal (Fox Business)

Avon Products, Inc. (NYSE: AVP) today announced that Andrea Jung has informed the Board of Directors that she will step down as Executive Chairman and Board member, effective December 31, 2012 after a successful transition to new leadership under CEO Sheri McCoy. Ms. Jung will continue as a senior advisor to the Board beginning on January 1, 2013.

Fred Hassan, currently lead independent director, will succeed Ms. Jung next year and assume the position of non-executive Chairman on January 1. Mr. Hassan is a managing director and partner at Warburg Pincus and the former Chairman and Chief Executive Officer of Schering-Plough Corp. 

Posted-In: News Management

 

Related Articles (AVP)

Around the Web, We're Loving...

Get Benzinga's Newsletters