NEW YORK, Feb. 24, 2011 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced a comprehensive management realignment to enhance the company's operational and executional effectiveness. The reorganization, the company's most significant since it reduced management layers in 2005, provides added management depth and increased operational oversight of its Commercial Business Units and also reflects leadership changes in the company's priority geographies.
Commenting on the changes, Andrea Jung, Avon's Chairman and CEO said: "Avon continues to have significant growth opportunities across our global geographic portfolio. Our goal is to capture these opportunities by realigning our top management talent and also through strategic new hires that bring added management capabilities. The reduction in management layers in 2005 set the stage for renewed growth by enabling us to be faster and nimbler, but since then our business has grown significantly and become increasingly complex. The realigned management structure reflects this new reality and is designed to enhance operational rigor and better position us to execute effectively across the portfolio."
As part of the reorganization, the company said it is repositioning its six Commercial Business Units into two major business groups -- the Developed Market Group and the Developing Market Group. In connection with these changes, Avon today announced the following senior management appointments, effective March 1:
These three executive positions will report directly to Ms. Jung. In a series of related changes, the company announced the following leadership appointments for its Commercial Business Units:
Developed Market Group Changes:
Developing Market Group Changes
Commenting on these management appointments Ms. Jung said: "With these changes we are capitalizing on the enormous talents of a very diverse and seasoned group of executives to strengthen regional and country leadership across our global portfolio. We are also rebuilding a team of dedicated Commercial Business Unit leaders consistent with our focus on executional excellence and operational rigor going forward."
Avon, the company for women, is a leading global beauty company, with over $10 billion in annual revenue. As the world's largest direct seller, Avon markets to women in more than 100 countries through approximately 6.5 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.
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements in this release that are not historical facts or information are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "estimate," "project," "forecast," "plan," "believe," "may," "expect," "anticipate," "intend," "planned," "potential," "can," "expectation" and similar expressions, or the negative of those expressions, may identify forward-looking statements. Such forward-looking statements are based on management's reasonable current assumptions and expectations. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of Avon to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management's expectations. Such factors include, among others, the following:
Additional information identifying such factors is contained in Item 1A of our 2009 Form 10-K for the year ended December 31, 2009. We undertake no obligation to update any such forward-looking statements.
SOURCE Avon Products, Inc.