Printer Friendly

AVON FORMS OFFICE OF THE CHAIRMAN REALIGNS COMPANY TO MEET GLOBAL INITIATIVES

    NEW YORK, Nov. 16 ~PRNewswire~ -- Avon Products Inc. (NYSE: AVP ) today announced formation of an Office of the Chairman to provide overall leadership of the company.
    Members are James E. Preston, chairman and chief executive officer; Edward J. Robinson, vice chairman and chief financial and administrative officer; and Walker Lewis, executive vice president, North America, and president, U.S.
    The Office of the Chairman will set growth initiatives, integrate global strategies and allocate resources to Avon units around the world.
    In addition, Avon will phase out its three International Region headquarters and organize into nine streamlined business units covering sales, marketing and distribution operations around the world.  These units will report directly to the Office of the Chairman.
    Also, a new multinational Global Product Management Group will support the entire company.  Avon's key business functions, including product management, manufacturing, sales and service, will be managed by this global group in an effort to increase the company's competitive advantages.
    "The new slimmed-down global organization will make us more responsive to local markets while providing economies in such areas as global manufacturing, purchasing and research and development," said Preston.  "We will also be able to better exchange best practices, growth initiatives and competitive information more rapidly from market to market.
    "We want to become the embodiment of the phrase, 'Think global, act local.'"
    Members of the Office of the Chairman will divide responsibility for the nine business units.  Reporting to Preston are Northern Europe, Southern Europe, Asia~Pacific, United Kingdom, Japan and Mexico. Robinson, in addition to his duties as chief financial and administrative officer, will have responsibility for Latin America -
North and Latin America - South.   Lewis will lead the North American unit which consists of the U.S., Canada and Puerto Rico while continuing as president of the U.S.
    Also reporting to Preston are five staff departments -- Finance, Human Resources, Communications, an expanded Planning and Business Development and the new Global Product Management all of which assume worldwide responsibility.
    The realignment will be completed early in 1993.  Costs associated with this realignment were included in the restructuring charge announced April 16.
    Avon is the world's leading direct seller and marketer of beauty and related products with $3.6 billion in annual revenues.  Avon markets its products to women in more than 100 countries through 1.5 million independent representatives.  Avon product lines include such recognizable brands as Skin-So-Soft, Moisture Therapy, Color Rich Lipstick and Imari fragrance.  Avon is also the world's largest manufacturer of fashion jewelry, and markets an extensive line of gifts and collectibles.  The company employs approximately 30,000 people worldwide.
    -0-             11~16~92
    CONTACT:  Mary Taylor of Avon Products, 212-546-6341
    (AVP) CO:  AVON PRODUCTS INC. IN:  HOU ST:  NY


-- NY019 -- X117 11~16~92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 16, 1992
Words:458
Previous Article:TWO KEY EXECUTIVES JOIN DELL; NEW CHIEF FINANCIAL OFFICER, HEAD OF WORLDWIDE OPERATIONS BRING BROAD CORPORATE EXPERIENCE
Next Article:COREL AND DPT FORM SCSI MARKETING ALLIANCE; DPT TO OFFER COREL'S COMPREHENSIVE SCSI SOFTWARE WITH SMARTCACHE PLUS SCSI HOST ADAPTER
Topics:


Related Articles
CHARLES R. PERRIN ELECTED TO BOARD OF AVON PRODUCTS, INC.
Avon Raises Targets for Sales and Earnings Growth
Avon Embarks on Multi-Year Restructuring Effort.
Avon Realigns Operating Structure.
Avon and IBM Announce Strategic Business Partnership to Strengthen Avon's Human Resources Organization.
Avon Signs Reese Witherspoon as First Ever Global Ambassador.
Avon Signs Reese Witherspoon as First Ever Global Ambassador.
Avon Announces Final Initiatives of the Restructuring Program Under Its Turnaround Plan.
Avon Expects Savings and Benefits Approaching $900 Million From Original Restructuring, Product Line Simplification and Strategic Sourcing Programs -...
Avon announces new plan.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters