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MarketScreener Homepage  >  Equities  >  Nyse  >  Avon Products    AVP

AVON PRODUCTS

(AVP)
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Avon Products : appoints Kay Nemoto as Chief Strategy and HR Officer to drive transformation

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02/12/2019 | 07:18am EDT

LONDON, Feb. 12, 2019 /CNW/ -- Avon Products, Inc. (NYSE: AVP) ("the Company"), a globally recognised leader in direct selling of beauty products, has appointed Kay Nemoto as Senior Vice President Chief Enablement Officer and Chief Human Resources Officer.  In this new role Kay will lead the change management and cultural overhaul underpinning Avon's transformation.

Kay - a seasoned turnaround specialist - has already been playing an integral role in Avon's transformation while on secondment from Avon's strategic partners Cerberus Operations & Advisory Company (COAC).  She's been heavily involved in building the strategy and plans to 'Open Up' Avon to growth, has sound knowledge of all areas of the business and a passion for the business model – particularly the power and potential of Avon's Beauty Entrepreneurs worldwide. 

Kay's new role will be focused on enabling Avon to be simpler and leaner, to drive accountability and to accelerate execution of Avon's turnaround through its people.  She will lead the cultural change management needed to underpin Avon's transformation, building an organisation that is effective and high performing.

Kay will join Avon's Executive Committee and report to CEO Jan Zijderveld. He said:
"I'm delighted to be securing talent of Kay's calibre to power our transformation.  She has high personal accountability and drive, and a deep understanding of the role that culture plays in delivering our strategy to Open Up Avon. What's more, she is obsessive about putting the needs of our millions of Beauty Entrepreneurs at the forefront of decisions and actions.  I'm excited to see what she can do in this new role as we open up Avon to future growth."

As Operating Executive at COAC, Kay has successfully led teams supporting turnarounds at multiple companies, always working closely with the management and HR teams. She brings over 23 years of experience in consultancy and advisory roles including with Ernst & Young and AlixPartners.

Kay said:
"This is an amazing opportunity to be part of the team that drives Avon's transformation and opens up value and growth.  Since working with Avon I've been astounded by the power of the iconic brand, the potential of the business model and the fantastic opportunity we have to leverage Avon's associates across the world to deliver change and future success.  We'll continue to inject and leverage talent and will prioritise implementation of culture and change management to deliver growth through making our Representatives successful.  When she succeeds, we succeed."

About Avon Products Inc.
For 130 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women.  Millions of independent sales Representatives across the world sell iconic Avon brands such as Avon Color and ANEW through their social networks, building their own beauty businesses on a full- or part-time basis.  Avon supports women's empowerment, entrepreneurship and well-being and has donated over $1billion to women's causes through Avon and the Avon Foundation.  Learn more about Avon and its products at www.avonworldwide.com. #Stand4Her

Forward-Looking Statements
This material contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to management changes and Avon's transformation. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in Avon's markets as well as the other risks detailed in Avon's filings with the Securities and Exchange Commission. Avon undertakes no obligation to update any statements in this material after it is posted to the Investor Relations section of our website.

Cision
View original content:http://www.prnewswire.com/news-releases/avon-appoints-kay-nemoto-as-chief-strategy-and-hr-officer-to-drive-transformation-300793977.html

SOURCE Avon Products, Inc.

© Canada Newswire, source Canada Newswire English

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Financials ($)
Sales 2019 5 136 M
EBIT 2019 241 M
Net income 2019 48,9 M
Debt 2019 969 M
Yield 2019 -
P/E ratio 2019 28,70
P/E ratio 2020 16,71
EV / Sales 2019 0,42x
EV / Sales 2020 0,37x
Capitalization 1 168 M
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Number of Analysts 10
Average target price 2,84 $
Spread / Average Target 7,4%
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Managers
NameTitle
Jan Zijderveld Chief Executive Officer & Director
Miguel Fernandez Global President & Executive Vice President
Chan W. Galbato Non-Executive Chairman
Jonathan Myers Chief Operating Officer & Executive Vice President
James Simpson Wilson Chief Financial Officer & Executive Vice President
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