Blog Exposure - Avon Products Selects New CEO
LONDON, UK / ACCESSWIRE / February 07, 2018 / Active-Investors.com has just released a free research report on Avon Products, Inc. (NYSE: AVP) ("Avon"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AVP as the Company's latest news hit the wire. On February 05, 2018, the Company announced that it has appointed Jan Zijderveld as the Chief Executive Officer (CEO), effective immediately. Zijderveld replaces Sheri McCoy, who previously announced her intention to retire from the Company and the Board. Zijderveld will also serve as a member of the Board of Directors. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Avon Products most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=AVP
Zijderveld's Focus on Strategic and Operational Excellence Makes Him Ideally Suited to Lead Avon
Chan Galbato, Chairman of the Board of Directors of Avon, stated that Zijderveld's 30-year track record as a proven global leader has driven profitable growth in large, multi-channel, complex consumer businesses across emerging, developing, and developed markets. In addition, Zijderveld's focus on strategic and operational excellence, while putting the Company's direct selling representatives and consumers front and center, makes him ideally suited to lead Avon. Galbato added that Avon's Board looks forward to supporting Zijderveld as he leads a deep and comprehensive strategic and operating review of all facets of the business and evaluates ways to significantly accelerate Avon's path to profitable growth.
Jan Zijderveld's Comments
Jan Zijderveld, expressed that he is happy to be joining Avon at such an important chapter in the Company's turnaround. He strongly believes in the opportunity and relevance of direct selling for today's representatives and consumers. Zijderveld added that with a dramatically changing consumer and competitor landscape, business as usual is not an option. Alongside continuing significant operational improvements in the near term, the Company will take a fresh look at the business and deliver Avon's next chapter with a sense of urgency.
Jan Zijderveld's Professional History
Zijderveld joins Avon from Unilever, a global leader in personal care, home, and food products, where he has had a 30-year career, living and working in seven countries across three continents. He most recently served as a member of Unilever's Executive Committee, and as President of Unilever's $14 billion European business. As President of Europe, Zijderveld was responsible for Unilever's largest operating business, encompassing 34 countries and 25,000 employees.
Zijderveld previously served as Executive Vice President in South East Asia and Australasia. During this time, Zijderveld was also Non-Executive Chairman of Unilever's listed Indonesian business, with a market capitalization in excess of $20 billion. Prior to that, as CEO of Unilever, Middle-East and North Africa, Zijderveld successfully led a complex business, in a volatile region, which included many joint venture partners and several distributors and go-to market models. Additionally, Zijderveld has previously held a number of leadership positions across Europe, Australia, and New Zealand, where he built his career in general management, marketing, and sales and distribution.
CEO Transition Plan Announced in August 2017
On August 03, 2017, Sheri McCoy announced her plan to step down as Avon's CEO and Director in March 2018, in-line with her commitments to the Company's Board of Directors to transform the business. McCoy joined the Company in 2012. News reports also suggest that the pressure from Avon's shareholders called for the appointment of a new CEO, due to disappointing financial results and falling shareholder value.
About Avon Products, Inc.
Founded in 1886 and based in New York, Avon is a cosmetics Company whose products include well-recognized and beloved cosmetic brands such as ANEW, Avon Color, Avon Care, Skin-So-Soft, and Advance Techniques. Sold through approximately six million active independent sales representatives, Avon's products delight consumers in approximately 70 countries worldwide.
Stock Performance Snapshot
February 06, 2018 - At Tuesday's closing bell, Avon Products' stock advanced 2.67%, ending the trading session at $2.31.
Volume traded for the day: 3.99 million shares, which was above the 3-month average volume of 3.52 million shares.
Stock performance in the last month – up 4.52%; previous three-month period – up 19.07%; and year-to-date - up 7.44%
After yesterday's close, Avon Products' market cap was at $1.05 billion.
The stock is part of the Consumer Goods sector, categorized under the Personal Products industry. This sector was up 2.1% at the end of the session.
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