NEW YORK, April 2, 2012 /PRNewswire/ -- Avon Products,
Inc. (NYSE: AVP) today announced that its Board of Directors
elected Douglas R. Conant to the
Board, effective immediately.
Mr. Conant, age 60, is the retired President and Chief Executive
Officer of the Campbell Soup Company, where he served from
2001 - 2011 and led the company through a dramatic business
transformation that generated quality sales growth, ten consecutive
years of adjusted earnings per share growth, strong cash flow and
record returns on invested capital. Prior to that, Mr. Conant
served from 1992-2000 at Nabisco in a series of senior leadership
positions, including President of Nabisco Foods Company from 1995
to 2000. Mr. Conant currently serves as the Chief Executive
Officer of DRC LLC, a leadership consulting firm, which he founded
in August 2011.
"We are pleased to welcome Doug to Avon's Board of Directors," said Andrea Jung, Avon's Chairman & Chief Executive
Officer. "With 35 years of experience, he has a track record
of growing brands and companies, and his expertise in leading
business transformation will be a valuable strategic asset to
Avon as we move the business
forward."
Fred Hassan, lead director of
Avon's Board, stated, "We are
delighted that Doug will bring his extensive business experience to
Avon's Board. His track
record in leading through transition and driving growth reflects
the continuing commitment of Avon's Board of Directors to support the
company in restoring business momentum and ensuring value for
shareholders."
Mr. Conant holds both a Bachelor of Arts degree from
Northwestern University and an MBA from
the J.L. Kellogg School of Management at Northwestern.
In other Board-related changes, Paul S.
Pressler, Partner at Clayton, Dubilier & Rice, Inc., indicated
his intention not to stand for re-election to Avon's Board of Directors after seven years of
service and will be leaving the Board effective April 2, 2012. Ms. Jung stated, "We thank
Paul for his service, insights and contributions to the company
during his tenure." Mr. Hassan added, "Paul has provided
valuable perspectives to the Board, leveraging his experience in
leading world-known brands and as a seasoned consumer products and
retail executive."
Avon, the company for
women, is a leading global beauty company, with over $11 billion in annual revenue. As the world's
largest direct seller, Avon
markets to women in more than 100 countries through approximately
6.4 million active independent Avon Sales Representatives.
Avon's product line includes
beauty products, as well as fashion and home products, and features
such well-recognized brand names as Avon Color, ANEW,
Skin-So-Soft, Advance Techniques, Avon Naturals, and
mark. Learn more about Avon
and its products at www.avoncompany.com.
SOURCE Avon Products, Inc.