Avon Elects New Board Member

Avon announced its board of directors has elected Douglas R. Conant to the board, effective immediately. Conant is the retired president and CEO of the Campbell Soup Company, where he served from 2001–2011. Prior to that, Conant served from 1992–2000 at Nabisco in a series of senior leadership positions, including president of Nabisco Foods Company from 1995 to 2000. He currently serves as the CEO of DRC LLC, a leadership consulting firm, which he founded in August 2011.

"We are pleased to welcome Doug to Avon's board of directors," said Andrea Jung, Avon's chairman and CEO. "With 35 years of experience, he has a track record of growing brands and companies, and his expertise in leading business transformation will be a valuable strategic asset to Avon as we move the business forward."

Fred Hassan, lead director of Avon's board, stated, "We are delighted that Doug will bring his extensive business experience to Avon's board.  His track record in leading through transition and driving growth reflects the continuing commitment of Avon's board of directors to support the company in restoring business momentum and ensuring value for shareholders."

In other board-related changes, Paul S. Pressler, partner at Clayton, Dubilier & Rice, Inc., indicated his intention not to stand for re-election to Avon's board of directors after seven years of service and will be leaving the board effective April 2, 2012. Jung stated, "We thank Paul for his service, insights and contributions to the company during his tenure." And Hassan added, "Paul has provided valuable perspectives to the board, leveraging his experience in leading world-known brands and as a seasoned consumer products and retail executive."

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