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Avon Products : New Avon Appoints Laurie Ann Goldman as CEO

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01/12/2019 | 03:50am EDT

New Avon LLC announced it has appointed Laurie Ann Goldman as chief executive officer, effective January 14, 2019.

Goldman succeeds Scott White, who joined Avon in 2016 to lead its separation from Avon Products, Inc. and the operational transformation of Avons business in North America.

Goldman, who joined Avons Board of Managers in August 2018, is a marketing and branding executive with more than 30 years of experience at leading consumer products companies. She was the chief executive officer of Spanx, a multinational womens apparel company, for 12 years, and was instrumental in building the brand from a small start-up to a successful global business. Earlier in her career, she held various senior leadership roles in the Global Marketing division of The Coca Cola Company.

Laurie Ann is an experienced and inspirational leader in womens lifestyle and consumer products, and we are thrilled to welcome her as our new CEO, said Lori Bush, chairwoman of the Avon Board of Managers. We believe Laurie Anns proven brand and business-building capabilities, along with her passion for empowering women, make her the ideal CEO to further promote the success of our Representatives and ensure outstanding experiences for their enhanced satisfaction for our customers.

The right product has the power to change a womans life, and each woman has the power to change the world, said Goldman. Im thrilled to join Avon, the company that invented social selling, and lead the team and community of beauty advisors in driving product sales and progress for women. I thank Scott for his many contributions and look forward to delivering sustained growth through strategic innovation that will invigorate the business and ultimately help women face their futures with confidence.

Chan Galbato, chief executive officer, Cerberus Operations and Advisory Company, LLC, and Member of the Avon Board of Managers, added, This transition is the result of our original long-term plan for reinvigorating Avonto improve the companys fundamental operations and then transition to focus on strategic growth. We are grateful for Scotts leadership during this critical stage of Avons development and are confident that the strong foundation he established will allow the company to thrive in the years to come. In addition to the separation and creation of an efficient corporate infrastructure, Scott drove key initiatives to fully digitize the business, establish strategic partnerships for manufacturing and R&D, and enhance our Representative experience. We are excited for Laurie Ann to now take the company forward and drive deeper customer engagement and sustained growth.

White will transition to a strategic advisor role and work with Cerberus Operations and Advisory Company, the proprietary operations platform of Cerberus Capital Management, L.P., Avons financial and strategic partner. In his role, he will continue to advise Avon and will also work on key initiatives across Cerberus portfolio of operating company investments.

I would like to thank the entire Avon community, including our Representatives, associates and customers, for their ongoing dedication and belief in our iconic brand, great products and the opportunities we provide to women throughout North America, said White. I am confident in Avons future and believe that with Laurie Anns leadership, the company will be able to drive modern, relevant experiences for our customers while creating sustainable long-term growth. I look forward to continuing to work with the Avon team, as well as Cerberus other portfolio companies, in my strategic advisor role.

(c) Palestine News Network, 2003 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (USD)
Sales 2019 5 073 M
EBIT 2019 250 M
Net income 2019 23,7 M
Debt 2019 1 012 M
Yield 2019 -
P/E ratio 2019 284x
P/E ratio 2020 24,8x
EV / Sales2019 0,55x
EV / Sales2020 0,35x
Capitalization 1 786 M
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Technical analysis trends AVON PRODUCTS
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Income Statement Evolution
Mean consensus HOLD
Number of Analysts 9
Average target price 3,23  $
Last Close Price 3,97  $
Spread / Highest target 5,79%
Spread / Average Target -18,8%
Spread / Lowest Target -49,6%
EPS Revisions
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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