Avon Products Inc, the door-to- door cosmetics seller, said Fred Hassan resigned as non-executive chairman after about four months in the post to focus on other professional responsibilities.
Board member Doug Conant will replace Hassan immediately, the New York-based company said today in a statement. Chief Financial Officer Kimberly Ross also was named to the board, effective May 2, to maintain the minimum number of board members required by Avon's bylaws. Ross will step down once a new independent director is appointed, the company said.
Chief Executive Officer Sheri McCoy has been working to reverse four years of worsening results at Avon by cutting jobs and exiting smaller markets to reduce costs. Conant joined Avon's board in April 2012, less than a year after retiring as CEO of Campbell Soup Co, which he was credited with helping turn around during his decade at the helm.
Avon fell 2 per cent to $21.91 at 11:47 am in New York. The shares surged 56 per cent this year through yesterday, compared with an 11 per cent gain for the Standard & Poor's 500 Index.
Board member Doug Conant will replace Hassan immediately, the New York-based company said today in a statement. Chief Financial Officer Kimberly Ross also was named to the board, effective May 2, to maintain the minimum number of board members required by Avon's bylaws. Ross will step down once a new independent director is appointed, the company said.
Chief Executive Officer Sheri McCoy has been working to reverse four years of worsening results at Avon by cutting jobs and exiting smaller markets to reduce costs. Conant joined Avon's board in April 2012, less than a year after retiring as CEO of Campbell Soup Co, which he was credited with helping turn around during his decade at the helm.
Avon fell 2 per cent to $21.91 at 11:47 am in New York. The shares surged 56 per cent this year through yesterday, compared with an 11 per cent gain for the Standard & Poor's 500 Index.