logo
Featured on 40:     ABC 40 Celebrates     Fontenot Memorial     Fall Previews!     Back to School Pix     Weather Discussion    
share on facebook share on twitter
Breaking News
Pilot, Passenger Die in Plane Crash in New Hampshire Read more

Avon Products Chairman to Step Down

NEW YORK (AP) — Avon Products says its chairman and former CEO Andrea Jung will step down at the end of the year. The move will end her 18 year tenure at the company.

Jung will be replaced as chairman by lead director Fred Hassan.

Shares rose nearly 5 percent in premarket trading on the news.

Jung will continue to be an adviser to the board. She joined Avon in 1994 and became the first woman CEO for the 126-year old company In 1999. But she came under fire for failing to stem the company’s declines and wrap up a bribery investigation.

She was replaced by Sherilyn S. McCoy as CEO in April but retained her chairman title.

Hassan joined the board in 1999 and has served as lead independent director since 2009.

WGGB encourages readers to share their thoughts and engage in healthy dialogue about the issues. Comments containing personal attacks, profanity, offensive language or advertising will be removed. Please use the report comment function for any posts you feel should be reviewed. Thank you.

Comments

WGGB encourages readers to share their thoughts and engage in healthy dialogue about the issues. Comments containing personal attacks, profanity, offensive language or advertising will be removed. Please use the report comment function for any posts you feel should be reviewed. Thank you.
blog comments powered by Disqus