Bonus Time for Avon Exec


Posted on April 4, 2013 @ 09:59 am



It has been reported that Sheri McCoy, who became Avon's CEO in April 2012, received a base salary of $831,781, which was the amount filed with the Securities and Exchange Commission.

She received a bonus of about $1.9 million and stock awards worth nearly $9.4 million on the date they were granted. She also received a performance-based bonus of $591,025 and other compensation of $180,139. The other compensation includes perks such as financial planning and tax preparation, a car service allowance, an executive health exam, temporary housing costs and related expenses and legal fees related to her hire.

Andrea Jung, who was Avon CEO through April 2012 and executive chairman through the end of the year, received a pay package valued at $6.4 million, the same as in 2011. She received a base salary of $1.1 million and stock awards valued at $5.1 million when they were granted. She received $209, 134 in other compensation, including perks such as financial planning and tax preparation, a car lease, insurance, home security, an executive health exam, monthly parking, and a car service allowance of $96,404.

In the filing with the Securities and Exchange Commission, Avon said 2012 was "a challenging year for Avon and one of significant transition."

The company added that even though 2012 results were "disappointing," McCoy has established a clear turnaround strategy, aimed at achieving mid-single digit percentage revenue growth and $400 million in cost savings by 2016.