December 15, 2011 by staff
Andrea Jung, Replacing Avon Products Inc.’s (AVP) Chief Executive Officer Andrea Jung with an outsider may inject fresh energy into a company where the leader and much of her board have served for more than a decade.
The cosmetics seller’s management needs someone “to shake them out of their entrenched ways of doing things,” said Ali Dibadj, ananlyst at Sanford Bernstein & Co. in New York who has covered Avon since 2007.
Avon, which generates more than 80 percent of revenue outside the U.S., said Dec. 13 that Jung will step aside as CEO next year and remain chairman while it contends with slowing sales and profit growth. The new CEO should be an operations person with strong emerging-markets knowledge, Dibadj and otheranlysts said in interviews. The trick will be to find someone who can allow Jung to continue her role as an embodiment of the 125-year-old brand, they said.
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