NEW YORK, April 2, 2012 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced that its Board of Directors elected Douglas R. Conant to the Board, effective immediately.
Mr. Conant, age 60, is the retired President and Chief Executive Officer of the Campbell Soup Company, where he served from 2001 - 2011 and led the company through a dramatic business transformation that generated quality sales growth, ten consecutive years of adjusted earnings per share growth, strong cash flow and record returns on invested capital. Prior to that, Mr. Conant served from 1992-2000 at Nabisco in a series of senior leadership positions, including President of Nabisco Foods Company from 1995 to 2000. Mr. Conant currently serves as the Chief Executive Officer 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 & Chief Executive Officer. "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."Mr. Conant holds both a Bachelor of Arts degree from Northwestern University and an MBA from the J.L. Kellogg School of Management at Northwestern. 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. Ms. Jung stated, "We thank Paul for his service, insights and contributions to the company during his tenure." Mr. 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." Avon, the company for women, is a leading global beauty company, with over $11 billion in annual revenue. As the world's largest direct seller, Avon markets to women in more than 100 countries through approximately 6.4 million active independent Avon Sales Representatives. Avon's product line includes beauty products, as well as fashion and home products, and features such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, Avon Naturals, and mark. Learn more about Avon and its products at www.avoncompany.com. SOURCE Avon Products, Inc.
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