Avon Products has announced that Fred Hassan has resigned from its Board of Directors, to focus on his other professional commitments. Hassan serves as a non-executive chairman of Bausch + Lomb and is a managing director, partner at Warburg Pincus LLC. He also serves on the Board of Time Warner, Inc.
Doug Conant, who currently serves on the Board, has been elected to the position of non-executive Chairman. Both are effective immediately.
"Fred has been a good partner to me as I transitioned into my role as CEO of Avon and I thank him for his support. On behalf of Avon's associates, we wish him success," said Sheri McCoy, CEO of Avon. "I welcome Doug to his new role and look forward to working closely with him as we continue to make progress in Avon's turnaround."
In order to maintain a minimum number of directors, the Board has appointed Kimberly Ross, CFO, Avon, to the Board of Directors, effective May 2, 2013. Ross will step down from the Board once a new independent director has been appointed. An independent director search is currently underway.