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Avon Clearing the Decks: Firm Ousts Cramb Amid Ongoing Investigation

This article was originally published in The Rose Sheet

Executive Summary

Avon announces dismissal of Vice Chairman Charles Cramb in connection with firm’s internal investigation into possible breach of fiduciary duty and alleged violations of the Foreign Corrupt Practices Act. With CEO Andrea Jung on her way out as well, analysts see in the decay of Avon’s upper management glimmers of opportunity.

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In Brief

Avon Products Inc. says the SEC has closed one investigation into the company. More news in brief.

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