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Avon Designates 2012 “Transitional Year,” Delays Guidance

This article was originally published in The Rose Sheet

Executive Summary

With plans to reduce headcount, cut costs and fix its Brazilian business – all while searching for a new CEO – Avon Products Inc. has designated 2012 a “transitional” year and declined to give forward-looking guidance during a Feb. 14 earnings call.

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People In Brief

Avon adds a new member to its board of directors, former Campbell Soup President and CEO Douglas R. Conant, while Zo Skin Health announces a new executive management team led by Jim Headley, previous head of World Wide Products, which marketed the original Obagi Nu-Derm System created by ZO’s namesake and medical director.

Avon Clearing the Decks: Firm Ousts Cramb Amid Ongoing Investigation

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.

QUOTED. 26 February 2020. Mark Leahey.

In an exclusive interview with Medtech Insight, Mark Leahey, president of the Medical Device Manufacturers Association (MDMA), said the previous four Medical Device User Fee negotiations with the US FDA have set a strong foundation for the industry and the next round of negotiations should focus on tweaking past deals that are already in place. See what MDMA's president, Mark Leahey, said about it here.


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