Avon’s executive chairman Andrea Jung to step down

Avon’s executive chairman Andrea Jung is to step down from the board at the end of December, after a successful transition to senior advisor.

Jung will be replaced by Fred Hassan, who is currently lead independent director and will assume the position of non-executive chairman from 1 January. Jung said: “My decision reflects the successful transition to new leadership. I believe the end of the year is the appropriate time for me to shift my role from executive chairman to senior advisor. It has been a great privilege to serve the company over the past two decades, most notably the millions of Avon representatives and thousands of associates around the world. I look forward to supporting the Avon Board of Directors.

“Fred’s experience and leadership on the Avon board, and his unusual record of leading turnarounds at world-class companies over his distinguished career, make him ideally suited to take on the independent Chairman role.”