NEW YORK, Dec. 1, 2016 /PRNewswire/ -- Avon Products, Inc.
(NYSE: AVP) today announced the appointment of Jamie Wilson as Executive Vice President and
Chief Financial Officer, effective January
1, 2017. Mr. Wilson will be responsible for all finance
functions and will report directly to Avon's Chief Executive Officer, Sheri McCoy.
Avon's current Chief Financial
Officer and Chief Operating Officer, James
Scully, will continue to serve as Chief Operating Officer
through 2017. Mr. Scully will continue to be responsible for the
Global Supply Chain and Information Technology functions, as well
as lead the Project Management Office for Avon's Transformation
Plan.
The Company has made solid progress on its Transformation Plan,
including accelerating the pace of the 2016 cost savings
initiatives and taking actions to significantly improve the
Company's balance sheet. In addition, as previously announced,
Avon is establishing its corporate
headquarters in the UK. The Company began transitioning key members
of its leadership team to the UK in October
2016 and is on track for the headquarters to be fully
operational in January 2017.
"I'm thrilled to have attracted someone of Jamie's caliber to
join our Avon Products team. Jamie has a proven track record of
strong financial leadership over an impressive and diverse career.
That, along with his breadth of consumer expertise in international
markets, will be immensely valuable as we continue to deliver on
the Company's Transformation Plan," said Ms. McCoy.
Mr. Wilson commented, "I am very pleased to join the team of
this iconic global brand during such a pivotal time for the
Company. I look forward to working with Sheri, Jim, and the entire
Avon team to drive the Company's
financial and strategic goals, while delivering on the Company's
important mission of empowering women around the world."
Ms. McCoy added, "Jim is an outstanding leader and has been
instrumental in helping the Company navigate through the past two
years as we addressed some of our key challenges and defined our
Transformation Plan moving forward. I'm pleased that Jim has agreed
to stay with Avon through 2017 to
support the transition, continuing as COO and leading the Project
Management Office for Avon's
Transformation Plan – a critical role in ensuring that we
operationalize the commitments we have made."
Mr. Scully stated, "Avon has
made significant progress over the last year, and I am happy to
continue to be part of the team as we strategically position the
Company for its next chapter. I look forward to continuing to drive
forward our transformation plan and working with the entire
Avon team as we position the
Company to deliver sustainable, long-term profitable growth."
Prior to joining Avon, Mr.
Wilson served as CFO of SABMiller, an international brewing and
beverage company headquartered in London, from 2011 to 2015. Mr. Wilson joined
SABMiller in 2005 as Director of Strategic Projects and held
numerous roles over his ten years at the company, including
managing director in Russia as
well as managing director of Central
Europe. During Mr. Wilson's tenure as CFO at SABMiller, the
company experienced a 50% share price appreciation as well as
double digit profit growth per annum. He was instrumental in
transforming the company from a regionally autonomous portfolio to
a globally integrated organization, achieving significant cost
savings. Notably, Mr. Wilson also played a key role in the
$11.5B acquisition and integration of
the Fosters business.
Prior to SABMiller, Mr. Wilson was Strategy and Projects
Director at Scottish & Newcastle, where he successfully led the
strategy function across the group. Additionally, Mr. Wilson spent
several years at Highland Distillers, where he held a variety of
positions, most notably Group Finance Director. During his tenure
at Highland Distillers, Mr. Wilson successfully modernized the
finance function and delivered against notable corporate activity.
Additionally, he created a separate company to house all
production, and developed Maxxium, a €1.2 billion three-way joint
venture with Remy Cointreau and Jim
Beam with which he moved to Paris
as the new company's Chairman. Mr. Wilson began his professional
career at Deloitte Haskins & Sells after completing his law
degree at the University of
Edinburgh.
Mr. Wilson will be based at the Avon Products UK
headquarters.
About Avon Products, Inc.
Avon is the Company
that for 130 years has proudly stood for beauty, innovation,
optimism and, above all, women. Avon products include
well-recognized and beloved brands such as ANEW, Avon Color, Avon
Care, Skin-So-Soft, and Advance Techniques sold through nearly 6
million active independent Avon Sales Representatives.
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SOURCE Avon Products, Inc.