Avon Products has announced that Jan Zijderveld will step down as Chief Executive Officer.
The news coincides with the pending closing of the sale of the company to Natura &Co. Holding S.A. -- as Avon says it is "embarking upon the next chapter in its 130-year history."
Zijderveld's departure is effective immediately upon the closing, which is expected to become final today.
Avon Products will join the Natura &Co. family of brands, as Zijderveld hands over leadership to Natura &Co Executive Chairman Roberto Marques.
The new leadership team will be announced soon after the closing.
Update: Natura &Co Announces Avon's New Leadership Team
Zijderveld comments, "The combination of Avon with Natura &Co is a transformational event and the right moment for Avon to start its next growth phase. I will leave Avon with a feeling of pride for what we have accomplished together with the company's talented and passionate people and teams."
In his nearly two years at Avon's helm, Zijderveld has been instrumental in turning around the company through its Open Up strategy, which aims at making Avon the digital social selling beauty company by rebuilding the fundamentals and modernizing its model.
He is credited with strengthening the brand proposition, driving price improvements, reinvesting in Avon's beauty entrepreneurs and launching the digitization of the business.
Zijderveld says, "With the Open Up strategy, we have made significant progress in building a more stable foundation from which Avon can grow well into the future. We have modernized the brand, sharpened the portfolio and brought on-trend, innovative products to our consumers. Most importantly, we have put our passionate representatives back at the heart of everything we do, empowering them to grow their business and reach new consumers.
He adds, "Natura &Co is the right home for Avon to accelerate its Open Up strategy and continue to change women's lives, and I will be cheering from the sidelines."
Chan Galbato, chairman of the Board of Directors of Avon, comments, "On behalf of the Board, I would like to express our thanks and sincere admiration to Jan for his tremendous accomplishments at Avon's helm and know he will do well in his future endeavors. The transaction we will soon conclude with Natura &Co is testament to his success in turning around the company through his Open Up strategy. He leaves a strong legacy on which to build, and Avon is well positioned to write a new chapter of its growth story with Natura &Co."
Avon's Next Chapter
Joining a group that includes Natura, The Body Shop, and Aesop, Avon Products will become part of the world's fourth-biggest pure-play beauty company, reaching more than 200 million consumers worldwide through multiple channels.
The group will have annual gross sales above US$10 billion, 6.3 million representatives and consultants, 3,200 stores and a presence in more than 100 countries.
More About Jan Zijderveld
A native of The Netherlands who has lived in eight countries on three continents, Zijderveld joined Avon in February 2018 after a 30-year career at Unilever NV/PLC, during which he was most recently a member of the Unilever Executive Committee and President of Unilever's European business.