12.13.11
Avon Products’ CEO Andrea Jung will leave her post and assume the position of executive chairman once a replacement for her is named. Jung currently holds both titles.
Avon announced that in 2012 the company will separate the roles of chairman and chief executive officer. The company said that Andrea Jung, Avon's chairman and CEO, will be named executive chairman, and that a committee of the board of directors will work with Jung on an external search for a chief executive officer. Jung will continue to serve in her dual roles throughout the recruitment process and will work closely with the new CEO to assure a successful transition.
"I believe the time is right to separate the chairman and CEO roles and I look forward to continuing to serve Avon as chairman as we address the company's growing scale and opportunities," said Jung, who has been Avon's CEO since 1999. "Over the past twelve years we have transformed the business from a decentralized group of local operating entities to a globally-managed business in over 100 countries with global brands and a global operating model. In the process, revenues have more than doubled, and the number of Representatives has doubled as well. As we look to the future, Avon's business model remains advantaged, with both the Beauty and Direct Selling industries growing around the world, and with our broad, geographic footprint. A new CEO will provide a fresh lens and additional operational and executive leadership."
Avon announced that in 2012 the company will separate the roles of chairman and chief executive officer. The company said that Andrea Jung, Avon's chairman and CEO, will be named executive chairman, and that a committee of the board of directors will work with Jung on an external search for a chief executive officer. Jung will continue to serve in her dual roles throughout the recruitment process and will work closely with the new CEO to assure a successful transition.
"I believe the time is right to separate the chairman and CEO roles and I look forward to continuing to serve Avon as chairman as we address the company's growing scale and opportunities," said Jung, who has been Avon's CEO since 1999. "Over the past twelve years we have transformed the business from a decentralized group of local operating entities to a globally-managed business in over 100 countries with global brands and a global operating model. In the process, revenues have more than doubled, and the number of Representatives has doubled as well. As we look to the future, Avon's business model remains advantaged, with both the Beauty and Direct Selling industries growing around the world, and with our broad, geographic footprint. A new CEO will provide a fresh lens and additional operational and executive leadership."