Saturday, February 06, 2016
Current Weather
Loading Current Weather....
Published: Tuesday, 4/10/2012

Former J&J executive named to lead Avon


NEW YORK — Struggling cosmetics seller Avon Products Inc. tapped longtime Johnson & Johnson executive Sherilyn S. McCoy as its new chief executive Monday.

The announcement ended a four-month search to replace Andrea Jung, who had come under fire for failing to stem the company's declines and wrap up a bribery investigation.

Avon said Ms. Jung — the first female CEO of the 126-year-old company — will remain executive chairman after Ms. McCoy takes over this month. Shares of the New York-based company fell more than 3 percent Monday.

Ms. McCoy's emergence at Avon comes less than two months after she was passed over for the top spot at Johnson & Johnson, which in February announced that Alex Gorsky would take over as chief executive.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.