Avon Board of Directors Announces Appointment of Sherilyn S. (Sheri) McCoy as Chief Executive Officer of Avon

Avon Products, Inc.

today announced that its Board of Directors has appointed Sherilyn S. (Sheri) McCoy as Chief Executive Officer. Ms. McCoy will join Avon effective April 23, 2012, and will also serve as a director on the company's Board. Ms. McCoy, 53, assumes leadership of Avon following an exceptional 30-year career at Johnson & Johnson, where she rose to become Vice Chairman of the company's Pharmaceutical, Consumer, Corporate Office of Science & Technology, and Information Technology divisions. In this capacity she served on J & J's Executive Committee with oversight for more than 60% of J & J's $65 billion in revenues. Her responsibilities included stewardship for a broad portfolio of world-famous consumer brands including brands such as Neutrogena, Aveeno, Lubriderm, Clean & Clear and ROC. Fred Hassan, lead director of Avon's Board, said: "The Board conducted an extensive search among many world-class candidates across the direct selling, retail and consumer sectors, and Sheri emerged as the clear choice to take Avon into the future. Sheri has a unique combination of strategic and finely-honed operational skills, a significant turnaround track record, global experience and people leadership. Given her consistent record of outperforming against new challenges, we have great confidence that under Sheri's leadership Avon can successfully execute against our strong long-term prospects."