Avon Products says this is the last leadership change, for now

Avon Products says this is the last leadership change, for now

This week the direct sales beauty company announced the appointment of a new chief operating officer. And in making the announcement, Avon Products assured investors, the industry, and the public that the company is now moving full speed ahead toward “sustainable profitable growth.”

Whether this will put an end to rumors of CEO Sheri McCoy’s retirement is yet to be seen. But there’s no indication in the company’s press release about the new appointment that she is leaving; on the contrary, incoming COO Jonathan Myers says expressly that he looks “forward to working alongside Sheri and the new Avon leadership team to deliver sustainable growth by expanding our network, digitizing our operations and leveraging our dynamic portfolio of market-leading products.”

And even beyond that, Chan Galbato, chairman of Avon, tells the press, “Our Board and management team, under Sheri McCoy's leadership, are committed to the turnaround of Avon's business and are continuing to ensure the business executes on its strategic plan to create consistent, sustainable and profitable growth.”

Galbato goes on to affirm that Myers’ appointment is indeed the last leadership change at Avon Products for the foreseeable future: “This latest appointment completes the executive team required to take Avon onto the next stage of the journey.”

Incoming

Myers is taking on the responsibility of overseeing Avon's brand marketing and product R&D, as well as the company’s digital, IT, and global supply chain, according to the company release.

He comes to the beauty company from food manufacturer Kellogg’s, where he served as the vice president of Western European markets and managing director for the UK and Ireland for nearly 5 years. Prior to that, Myers held various management and director posts at P&G. He was with that company for a good 20 years.

“Jonathan's appointment and the other executive leadership appointments we have recently announced ensure we have the strong, seasoned leadership team in place to drive and accelerate the pace of change in the next chapter of our journey to profitable growth,” says McCoy.

Myers is of course also eager for the future: “"I am delighted to be joining Avon at such a critical time in the Company's transformation. With a 130-year history, the largest global representative network and leadership positions across a number of key markets and categories, Avon is positioned as one of the world's premier beauty brands.”

McCoy reiterates the social selling beauty company’s recent reorganization and objectives going forward, “during 2016, we established the basis for our transformation, separating the North American business, strengthening our balance sheet and driving out cost,” she says. “In 2017, we've refined our growth roadmap and put in place the enablers to drive the necessary changes to achieve our stated long-term financial goals.”

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