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Avon Announces Management Changes

Posted: September 11, 2007
Avon Products, Inc. announced several management changes designed to further strengthen the company's operating model as it continues to execute its turnaround plan.

Elizabeth (Liz) Smith—formerly executive vice president and president, North America and global marketing—was appointed president, Avon Products, Inc. In addition to retaining her current responsibilities for North America operations and global brand marketing, Smith will now also oversee global supply chain and global information technology, giving her full, end-to-end leadership for the company's product-to-market processes, infrastructure and systems. She will maintain her current reporting relationship to Andrea Jung, Avon's chairman and CEO.

"Liz has played a key leadership role in Avon's turnaround since joining the company three years ago," said Jung. "She has been instrumental in setting the company on the path to sustainable growth and has significantly elevated our analytical and operational rigor.

"Aligning our product-to-market functions under a leader of Liz's caliber will help us accelerate the global integration of our key business processes and technology. This will be an important enabler for two of the company's most critical turnaround initiatives, Product Line Simplification and Strategic Sourcing, which together are projected to deliver total annual benefits of more than $400 million to help us fuel continued growth."

Jung said that by appointing Smith as president and by newly defining the role to ensure alignment and integration of Avon's global business units, the company is laying further groundwork to significantly strengthen global governance of key company strategies within its new operating model.