Avon Looks to the Future With New CEO

April 23, 2012 by  

Cosmetics giant Avon has announced a new chief executive officer.

The Board of directors has appointed Sherilyn S McCoy to the post with effect of April 23rd. Ms McCoy will also act as a director on the board.

Ms McCoy, who is 53 years old, takes up the reigns of the company following a glittering career as Vice Chairman of Johnson & Johnson’s Consumer, Pharmaceutical, Information Technology and Corporate Office of Science & Technology divisions. During her time with the company, she oversaw more than $35 billion in revenue – roughly 60 per cent of the total.

Avon’s been around for a long time – originally, it began as a perfume retailer called “The California Perfume Company.” The then owner, David McConnell, hired a woman to sell his perfume. In 1895, Avon established its headquarters in New York and a year later it printed its first brochure. The company used brochure printing as an intergral part of its marketing strategy, which saw become a household name in several countries.

Lead director of Avon’s Board, Fred Hassan, said:

“The Board conducted an extensive search among many world-class candidates, and Sheri emerged as the clear choice to take Avon into the future. Sheri has a unique combination of strategic and finely-honed operational skills, a significant turnaround track record, global experience and people leadership.

Given her consistent record of outperforming against new challenges, we have great confidence that under Sheri’s leadership Avon can successfully execute against our strong long-term prospects.”

Ms Mcoy assumes leadership from outgoing CEO, Andrea Jung.