“Avon Products Inc. is ending Andrea Jung’s long run as its chief executive, saying the company needs to strengthen its management to get ‘back on a growth track,'” Joann S. Lublin and Hannah Karp report for The Wall Street Journal.
“The big door-to-door beauty company said Tuesday it has launched a search for CEO candidates outside the company,” Lublin and Karp report. “Once it settles on one, Ms. Jung will step aside and serve as full-time executive chairman. She is currently chairman and CEO.”
Lublin and Karp report, “It’s unusual for a company to announce it wants a new CEO while the current top executive is still in the job, as it brands the sitting CEO a lame duck.”
Read more in the full article here.
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