Avon CEO Search Over
In what was not an entirely surprising news, the MLM Business giant Avon CEO search is over as the replacement for Andrea Jung was announced. The company announced that Sheri McCoy, a long-standing Johnson and Johnson manager and leader will take Andrea’s place following the effective date of her resignation from her current company on April 18th.
Interestingly enough, McCoy was passed over recently for the top position at Johnson and Johnson.
There are several reasons that Avon itself has been searching for a new CEO, but namely because of declining North American sales over the last few years, despite a $10 billion in annual revenue.
According to Avon in this article:
“Sheri has a unique combination of strategic and finely-honed operational skills, a significant turnaround track record, global experience and people leadership,” Fred Hassan, lead director of Avon’s board, said in a statement on Monday.”
One of the major features of bringing in McCoy is to separate the CEO and chairman positions.
Now, the real question is, will this make a huge difference with Avon?
More than likely, no, at least not in North America. While revenue might stabilize in North America, there is such tremendous competition between Avon and other brands here that it is probably going to be too difficult to make a huge resurgence and bring the brand name back to its dominant form that it help here for years.
For years, the “Avon Lady” was practically synonymous with an upwardly mobile at-home/working woman.
Time will tell whether the new Avon CEO search ending with McCoy can turn around the ship here in North America.